Excerpt from MarketWatch quoting DataTrek’s Nick Colas:
… “But as tempting as it might be to call a bottom in stocks, Nicholas Colas, co-founder of DataTrek Research, said Tuesday that investors should brace for more carnage in the near term as several reliable historical signs of a durable bottom are still missing from markets.
Valuations are still too high, Colas said, and although 2022 has seen immense two-way volatility in stocks, sharp moves higher historically tend to signal that more volatility might be in store for stocks.
“Happy as we are that U.S. equities had a nice bounce today, this move is best considered as just another day in a rough year,” Colas said”….
Full article here on MarketWatch.