Don’t get too excited about the stock market’s recent rally. Some Wall Street experts say it could be a trap—and the bear market will still wreak havoc

The stock market is suddenly looking up. Or is it?

Equities whipsawed throughout the month of May as investors contemplated falling economic growth projections and less-than-stellar earnings forecasts from retailers.

Despite the bearish news, ongoing volatility, and consistent predictions of an impending recession, the S&P 500 ended the month roughly unchanged after mounting a recovery over the last few weeks.

The rebound has some on Wall Street arguing that it’s time to be opportunistic and…