Jason Bodner says indexes are looking great with the Nasdaq-100 (NDX) hitting all-time highs and the S&P 500 (SPX) not far behind. However, when you look under the surface, Jason points out that many stocks are seeing a bear market. He takes investors through his data to show how a small selection of stocks are behind the index strength. However, Jason points to October 6th as a tentative bottom for stocks currently experiencing bear markets. He also expects a Santa Claus rally to end 2026.