I agree that things may start to look better soon, but believe this is already priced into the stock market. If market participants were expecting a depression, the S&P500 would have been at 400-450 or even lower.
If depression expectations pick up, which I hope they don't but cannot rule out, I expect another plunge. If weak recovery becomes the consensus expectation, I see little upside as current stock valuations are close to their historic long-term trendline, valuation metrics look reasonable, but stocks are by no means cheap except relative to the recent bubbles.
Bowling Ball Bounce for Markets [View article]
If depression expectations pick up, which I hope they don't but cannot rule out, I expect another plunge. If weak recovery becomes the consensus expectation, I see little upside as current stock valuations are close to their historic long-term trendline, valuation metrics look reasonable, but stocks are by no means cheap except relative to the recent bubbles.