What type of market are we in?
In this analysis we look at where the S&P 500 Index is in terms of price momentum and valuation. It is our view that we are major markets entered a secular bear market in late 2000. Since the TMT bubble ended most major stock market indices have oscillated between cyclical bear markets and cyclical bull markets. For a great description of the difference between secular and cyclical stock markets I would refer readers to the website of Crestmont Research.






