It is an ongoing stock market debate in the post financial crisis period. Have we entered a new secular bull market after the lows of March 2009? Or do we remain in a secular bear market that started back in 2000 despite the fact that we have set new all-time highs in the S&P 500 Index last year? The answer to this question is critically important in considering the path of the stock market in the years ahead. For the bull conclusion suggests that stocks will continue on an upward trajectory after what has been a recent bump in the road since last summer. While the bear conclusion suggests that we may fall as far as retesting the 2002 and 2009 lows in the coming years. Which side is right?
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