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2) The market wants to see strong earnings from the Big Cap Tech Titans like $AAPL, $GOOG, $MSFT etc. So in October if they are good and if the market thinks the worse of interest rate hikes is already factored into PE's. Then the next Bull Market will start.
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When does next Bull market start? The market wants to see 2 things. 1) The light at the end of the tunnel for interest rate hikes. Now the market works in advance so when the worse is factored in. That's when the market will bottom and rally even if there are still hikes left