Present day bear looks like the previous one (66-82). If so, then we have to make a lower low before moving up.

Of course, it’s a little early, but an argument in favor of this theory is that the U.S. is at war, just like it was at the beginning of the previous bear market. Maybe going to war produced a similar economic environment. There’s a lot of differences as well right now, but this is a significant similarity.

Something to keep in mind, anyway.