Stocks will likely bottom in Q3 2023, says UBS strategist Keith Parker. Right now, 59% of the indicators are triggered, suggesting a few more need to be checked off before stocks can bottom. Once stocks do bottom, Parker said stocks have typically gone on a tear. In recessionary scenarios where the market falls around 35%, the market surges on average 42% in the 12-month period following a bottom. In non-recessionary declines of around 25%, the market usually returns 27% in the 12 months after a bottom, Parker said.

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