The recent top is perfectly aligned with the pre-corona top and the corona bottom by use of the Fibonacci sequence. Is this coincidence? I don't think so. From my standpoint the stock market has just started a correction. This is just only the beginning. We could see the market easily correct for some time, perhaps 2 months.
In my opinion stagnation will soon effect the stock market. Stagnation means that the economic growth will lag in relation to the speed of inflation. This is a bearish signal to the stock market as history tells! It's not good when future inflation can't lift up the accelerating economic growth.
Totally agree about stagflation. I think this gets bought up around 13500-14000 and we go for a double top before the big crash later this summer/fall. Value should start outpacing growth once earnings are almost done