Seriously, this is not where I thought we would be: The 3,800 level on the S & P 500 at the end of December 2022.
If you listen to pundits, almost all are in dour agreement about a poor 2023 market .
The table below shows all the years since 1960 when the S & P 500 fell at least 10%.
In six of the 10 years following a 10% decline, the average increase in the S & P 500 was 17.5%.
The S & P 500 index is down 20% for the year, the equal-weighted S & P 500 is off by about 13%, multiples have compressed, and sentiment is highly negative – that's bullish.