The bull market is dead, long live the bull market.
By some accounts, the Dow Jones Industrial Average
just entered a new bull-market phase, killing the 11-day-old bear market. To some market participants that notion may, indeed, feel like a lot of bull.
It may be somewhat disingenuous to refer to the recent moves of a frenetic market as genuinely bullish, coming after the carnage that has been wrought at least partly by the coronavirus outbreak that appears certain to ravage the U.S. economy over the next several weeks and months — at least temporarily.
Read: A record 3.28 million Americans applied for unemployment benefits last week due to coronavirus
According to Dow Jones Market Data,…