This is the beginning of a bear market IMO
Just like the end of a sector cycle in the market, there are cycles to the economy. Zero interest rates for 9+ years is finally over, as is the market rally IMO. Many say that interest rates are still low as is inflation, and the economy is just fine, but it's the trend change that reverses a cycle. Plus we have average PEs in the S&P around 20 (20% higher than the historic average of 16.5). Add to this possible multiple trade wars which the market won't like.
I believe that the market has been in rally mode since 2003, when the Dow was around 8K, and that we see a pullback to Dow 19K or less over the next year to year and a half. Of course it won't happen overnight, but I expect to see Dow 21K-22K this year yet.
