This article originally appeared in Barron's on March 12th, 2022.
The U.S. stock market has been flirting with correction territory this year, and the volatility shows no sign of easing in the short term.
The question on everybody’s mind now is whether the bull market is in danger.
The answer depends on which bull you’re talking about. One seems fairly safe for now; the other, not so much. And these mixed signals suggest there is reason for optimism in 2023 and beyond.
There are two ways to measure time periods in markets: cyclical, as represented in months and years, and secular, as measured in decades. The market is always in one of four positions, for instance, a cyclical bull inside a secular bear.
Read the full article in Barron's.