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It's time to '什么是熊市（Bear Market）？ play defense' with stocks experiencing a classic bear-market rally, Wells Fargo 什么是熊市（Bear Market）？ warns
Stocks won't exit the bear market until the Federal Reserve's last interest rate hike, according to Wells Fargo.
Investors need to be cautious despite major indices' recent gains, CIO Darrell Cronk told Bloomberg TV.
"This very much looks like a bear market rally… you've got to play defense," Cronk said.
It's time for investors to get defensive and consider jumping out of stocks, which look caught in the middle of a bear-market rally, according to a Wells Fargo investment chief.
Darrell Cronk told Bloomberg TV he's skeptical about how well equities will perform over the rest of 2022, even though the S&P 500 has climbed more than 15% since 什么是熊市（Bear Market）？ hitting a low for the year in June.
"This is the question: Is this a bear market rally or the start of a new bull?" Cronk, CIO for Wells Fargo Wealth and Investment Management, said on Friday. "This to us very much looks like a bear market rally."
"People forget that as bear markets get older, the bear market rallies 什么是熊市（Bear Market）？ get larger. This is the largest one we've seen, we've had six S&P 500 rallies during this bear of 7% or greater."
He believes the S&P 500's recent rally isn't sustainable, given the US benchmark has failed since April to break above its 200-day moving average. If stocks rise or fall through this key resistance level, it's seen as a change in long-term direction.
"The fact that 什么是熊市（Bear Market）？ we've failed off the 200-day to us still says that you've got to play defense," Cronk said — suggesting they pivot away from stocks, and into less risky and volatile 什么是熊市（Bear Market）？ markets such as bonds or cash.
The Wells Fargo CIO said bear markets don't end three things happen: housing market forward indicators hit a bottom, earnings estimates fall significantly or trough, and the Federal Reserve is on the verge of stopping 什么是熊市（Bear Market）？ its interest rate hikes.
"You've got to get closer to the Fed being at or within sight of 什么是熊市（Bear Market）？ their last interest rate hike," he said. "We think we're still probably at least six months away from that."
"什么是熊市（Bear Market）？ So, bear market rally — play defense here from a risk standpoint," Cronk said.
Markets have gained thanks to some investors' expectations that the Fed will pivot to start cutting interest rates soon. But Wall Street strategists have warned that the US central bank's current hiking cycle won't end until 2023.
Analysts at Goldman Sachs, Bank of America, and HSBC all 什么是熊市（Bear Market）？ said last week that the Fed will likely continue to hike until nominal rates are at 4%, around 150 basis points above their current level.
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Registration is now open for the 6th round of Peak Capital Trading’s boot camp. It gets better every time thanks to the incredibly hard work of our directors, Peter and John, and our 什么是熊市（Bear Market）？ Chief Education Officer, Mike. Since our launch in 2020, many traders have returned to take the boot camp again (and again!), and they have shared with us how their trading has improved because of their participation in our boot camp.
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#44: Investing in a Better Future with Peter Mallouk
Today on the show Jayson talks to Peter Mallouk, the CEO of Creative Planning, an independent investment firm that handles over $50 billion for their clients. Peter talks about the mindset of the market, and why you shouldn’t worry about a bear market.Jayson and Peter discuss the dos and don’ts of i
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Best Peter Mallouk Interviews on Podcasts or Audio about 什么是熊市（Bear Market）？ Peter Listen to audio about Peter Mallouk. Browse for Peter Mallouk interviews, guest appearances, and call-ins. Make snippets of Peter talking to create audio highlights to share with your friends or embed in related blog posts. Vurbl People: Interviews, Commentary, News, and More