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What to expect as the bull market turns two

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The S&P 500's 61% gain puts it the top third of post-war cyclical bulls that lasted at least two years. Negative catalysts have been required for a bull market to end in year three. Large-caps and Growth have tended to outperform in year three, but they are overbought versus small-caps and Value, respectively.

Ned Davis Research | Equities | U.S. Focus | Weekly

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