Jeffrey Gundlach: The stock market is still in a bear territory

13.03.2019 / 04:28

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After the impressive rebound, Jeffrey Gundlach still thinks the stock market is bearish. "The stock market was and is still in a bearish state." - says the founder of Doubleline Capital. He also added that shares could go to negative territory this year.

The market went into the sword area of Christmas when it fell by more than 20% of its 52 - week peaks. Since then, stocks have recovered significantly since the massive sell-off in December, with the S & P500 up nearly 19% since then.

Gundlach attributes the "credit" for the strong rebound of the stock only because of the reversal that the Fed has taken. Jerome Powell signaled a "patient" approach by the federal to fiscal policy.

But the weakening of the US economy sends bearish signals. Gundlach points to the deterioration of this data as well as the extremely poor retail sales since December.

Source: CNBC

Trader Martin Nikolov

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Jeffrey Gundlach: The stock market is still in a bear territory

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