Mike Wilson, chief equity strategist at Morgan Stanley, said: It will take some time before the main bear market decline comes. The stock market will continue to rebound in the coming weeks, and this tactical rebound will last until the end of the year.

The driver of the increase is the reallocation of funds in flows, and the real risk will not occur until U.S. earnings fall in early 2023. The S&P 500 is expected to bottom out between 3,000 and 3,300 points at some point in the first four months of 2023. The correction acceleration in earnings will also peak. It is expected that investors will sell everything and run away in the first quarter of 2023.