The stock market came awfully close to finishing Friday in a bear market, at least 20% off its peak in early January. Many investors would like to see it get there so Wall Street could put that aside and start the work of moving higher.
Mark Newton, head of technical strategy at Fundstrat, doesn’t necessarily think we’ll get that so-called capitulation, the time when investors sell en masse because they’ve given up on recouping their losses.
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