Jurrien Timmer says the S&P 500 is about 5% below its cyclical trendline, signaling a modest pullback within the current market structure. But the index remains

Jurrien Timmer says the S&P 500 is about 5% below its cyclical trendline, signaling a modest pullback within the current market structure. But the index remains above its secular trendline, supporting the case for an intact longer-term bull market.