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Regardless of the asset, some of the biggest rallies often take place during bear markets, NOT in bull markets. Many suggest the reason this takes place is massive short covering, hence a short covering rally.
My friend Ryan Detrick shared this chart with me, which reflects that yesterday was the biggest up day of the year and four of the top ten gaining days this year have taken place this month.
This is NOT enough data to confirm anything at this point. I do feel it could be something to pay attention too, since the ole bear has been sleeping for several years!