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If it looks like a bull, acts like a bull, runs like a bull, then it is probably a bull market. Our indicators are registering at their highest, most bullish levels since 2009. An S&P 500 fair value of 4,000 in 2020 is supported by our comparative asset valuation analysis. Fueled by three interest rate cuts, upward revisions in key economic data including GDP, significant progress in the trade war with China, a soft QE 4, a normalization of the yield curve, U.S. equities should trend