Is This a Recession Bear Market?

The discourse of the last 24 hours has drastically increased the probability that this is going to be a recession bear market. Recession bear markets tend to have year on year earnings declines that average 15 %, and valution troughs that tend to go to about 13 times. Julian recently lowered his price target for the s an p 500 to a level that suggests six % upside by year's end. He recommended that stock investors favor what he calls free cash flow favorites.