As of today, that translates into a gain of about 18%! This seemingly outrageous prediction was the headline that appeared in the financial post, dated March 29, 2008. The full article can be found here.

The man behind the prediction is Ron Meisels, president of independent market research firm Phases & Cycles. While many fear a U.S. recession is at hand, Mr. Meisels is one of the very few that suggests a new bull market has begun and that the index would likely continue to rise until at least September.

So, how outrageous is this claim? Let’s review some of the most recent “bad news” in the media.

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