Wade - bear market rallies not orchestrated, but I agree it's not random action. It's momentum. Trends and trend reversals are always evident in the market. It's not a random technical pattern at all.
You need to realize that probably 95% of investors are more optimistic than you. Not a lot of investors believe this to be the early stages of a severe bear market. I certainly don't. There are lots of undervalued stocks out there and I've been juggling positions to do bargain hunting and have been tempted to put idle cash to work.
It could be that the bear market is already over and that 3491 was the bottom for the S&P two weeks ago. I'd guess we get at least a retest of that level, but if inflation continues to cool down and the FED tapers the rate hikes starting in December, then maybe the bear market is done, leaving just volatility in its wake. I'll be glad if that's the case, but regardless, I'm cautiously optimistic about the market long term, and more optimistic about getting good returns in cheap, undervalued and oversold stocks !
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