Wall Street is breathing a sigh of relief after the S&P 500 Index managed to eke out its first weekly gain of the year. Despite the signs of strength, one prominent market watcher says stocks are still in store for a “thundering reset.””I think we have a dead cat bounce in no-man’s-land,” David Stockman told CNBC’s “Fast Money” last week. According to Stockman, the broad market has been trading in the abyss since breaking above 1,870 in 2014, seeing a meager 1 percent return since then.”We’re been there now for 700 days…we’ve had something like 35 attempts at rallies and all of them have failed for what I call the “four no’s”,” he added.

Source: Markets in store for a ‘thundering reset’, former official says

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