Typically, bull market rallies generate favorable shifts very quickly, so the failure to do so in this instance has kept us both skeptical and generally defensive. (hussmanfunds.com)
Sometimes Initial Claims will rise when the stock market makes 1 final bull market rally. (bullmarkets.co)
In addition, quality strategies held up well in bear markets and although their performance lagged in bull markets, they nonetheless participated in bull market rallies (such as 2003 and 2004). (indexologyblog.com)