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MarketWatch
Beware of a ‘bear trap’ retreat in stocks after the big summer rally, strategists warn
It looks like a “bear trap” may be lurking in this summer’s big bounce for the stock market, one that could lead to painful losses for investors, Glenmede strategists warned in a Monday report. Investors already appear to be reconsidering some factors of this summer’s powerful rebound, including rethinking hopes that the Federal Reserve may not hike interest rates as aggressively as previously thought. The S&P 500 index (SPX) has been hitting resistance after gaining nearly 17% from its mid-June low, and focus lately has turned to whether recent gains for equities could quickly fizzle, confirming a bear-market bounce.
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