The U.S. market has been on an uptrend since mid June. In fact, half of the losses from the June lows has been recovered. Several positive signs have been showing with this upward momentum of the market, and it got many of us thinking if a new bull market has started again. It's not surprising to think this way. After all, even some indicators are showing the tide has changed. One, roughly 90% of the S&P 500 stocks are trading above their 50-day moving averages. If history is any indication, this might be the start of a new bull market. Similar situations have happened with the rebounds in 2009, 2011, 2018-19 and 2020, and we all know what happened next. (https://www.bloomberg.com/opinion/articles/2022-08-16/if-the-china-crisis-deepens-a-global-recession-will-be-much-harder-to-avoid) Two, even my favourite technical indicator is now green. For those who are regular readers, you might have known that consumer spending is one of my favourite indicators in...