Green shoots continue to shoot. I’m now very confident that we’ve seen the worst in this recession and this bear market. For stocks, I’m confident that the March bottom will hold. The nontrivial question is where do we go from here? It’s nice to rule out zero as our destination (we couldn’t have done that three months ago). But is there any upside? That’s a whole other matter, and the data aren’t clear about how we should feel about it.
