We may have just concluded that bounce I was looking for if this chart is implying anything.
clipped from www.financialsense.com

Clearly, the inflation adjusted S&P index is approaching its regression line and, arguably, it might very well bounce upwards before it keeps heading southwards. But history shows that when the price strays too far from its regression line it’s only a matter of TIME before the price reverts and finally penetrates the regression line as the cycle unfolds. ?

blog it