The idea that we are currently in a bear market is absolutely ludicrous. At least it is at first glance. After all, stocks have gained +177% since early March 2009 lows and finished Wednesday with the S&P 500 closing at a fresh new all-time high. Make no mistake; we are currently in the midst of a still raging and absolutely relentless cyclical bull market. But despite all of the stock market glory over the last five years, this cyclical bull market is still taking place in an ongoing secular bear market that began at the turn of the millennium thirteen years ago.
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