The Long-Term Bull Case: Fed Pivot and Bullish Breadth

The Current Bull Market is FreshPresident Donald Trump’s April 2025 ‘Liberation Day’ reciprocal tariff policy sent the US stock market into a period of uncertainty and created the first bear market since 2022 (a bear market is defined as a 20% drawdown from the previous high). Although bear markets are painful for investors holding long positions, they are a necessary evil and often lead to the most fruitful opportunities in the long term. While subsequent bull markets vary in length, history suggests that ...