Easy to forget that the 1973-74, 1981-82, 2000-02, and 2007-09 bear markets all unfolded AFTER the initial Fed pivot. The '73-74 pivot was short lived amid high inflation. Unless market internals are favorable (read my stuff), pivots amid recession risk say "something just broke" pic.twitter.com/3lgYbG1WWq
— John P. Hussman, Ph.D. (@hussmanjp) October 21, 2022
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