Just as the stock market is settling into behavior that looks more and more like a regular post-bear-market recovery period, the US presidential election is imminent and priced into volatility markets as a potential high risk event.

As a bull market environment is signaled by the systematic Meta Strategy, the baseline expectation for this correction is to stick to regular parameters and lead to new all-time-highs in due course.

Looking at the big picture my conclusion is: an exogenous shock bear market has ended in record time and we now see the fundamental picture slowly turn positive. We can wait for signs of a new regime change from the Meta Strategy model rather than try to predict highly uncertain medium- & long-term developments.