Is the market bottom in?

Indices and sectors are off their recent lows

The market had a nice gain yesterday. It raises the question of whether or not we will continue to keep getting our hopes up only to have them dashed by a new lower low for the market.

Eventually though, there will be a bottom. Could it have already happened? Let’s first look to the major stock indices to see:

They are all up about 4% from their lows. That gives the tiniest bit of breathing room for a rally to build on.

But, if we look at sectors, it’s even a little bit more encouraging:

Every sector is off its low!

While there isn’t much time or buffer since the last low, these are encouraging signs. Time will tell if the worst is really behind us.

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