I Declare Shenanigans on the New Bull Market

In case you haven't noticed, the bulls are running wild, once again, on Wall Street.

Last year, the mature-business-driven Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S 500 (SNPINDEX: ^GSPC), and growth-stock-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC), all plunged into a bear market -- i.e., lost at least 20% of their value.

But since hitting their intraday lows in 2022, the Dow Jones, S 500, and Nasdaq Composite have, respectively, bounced by 17%, 22%, and 31%, as of the closing bell on June 5, 2023. Based on the traditional definition of a bull market, which describes a move of 20% or more off of a recent low, the broad-based S 500 and Nasdaq Composite are in a new bull market.

Source Fool.com