V Shaped Recovery? Try M Shaped Meltdown

Mike Kane submits:

While economists (the same economists who missed the first signs of the meltdown over two years ago) are calling for a new bull market, I am not so optimistic. The facts just don’t support this thesis.

At its peak last week, the S&P had bounced upwards 49% since its low in March. This is higher than the 43% bounce after a similar market trough in 1982.

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