The word on the street was the market had entered into a bear market rally, as Morgan Stanley (NYSE:MS) equity strategist Michael Wilson forecasted a price target for the S&P 500 of 4,000 and it potentially hitting 4,150.
It was not a positive catalyst for long-term investors, but traders and bag holders could use this event to create more liquidity before the last leg of the bear market occurs, which tended to be the worst.
