The Bear is coming ... the Covid cases are higher than they have ever been, people will lose their jobs, the stimulus is dragging... the drop is about to come ... not to mention, what does another $600 in paycheck really do unless you're barely making it which will not result in any significant economic difference anyways ... I think the Stock Market is irrational and frankly just stupid, which is actually a great time to make $$$
@poister198, "Crash" may be a harsh word, but a correction similar to March 2020 is possible because no one anticipated 175,000 daily cases of Covid recently, and it's not going to get better... if anything a Sept 2, 2020 (11%) correction is possible. I would hope the market is not dumb, but when I read news like Dow Jones is up because Yellen is coming back, if that is the reason for excitement then people are not looking at fundamentals here but acting on emotion ...
@poister198 the market is not usually dumb... but when asset prices are already high (and they were high in Jan/Feb of 2020 before the covid-19 lockdowns) and floods of first-time investors come into the market to the point where permabull Jim Cramer can't rationalize why stocks are going up... then I don't know what other conclusion to draw today.
Thank you for all of this, @Dr_Roboto. I'm curious what you think about charting SPX divided by Gold or the Swiss Franc? The reason I'm wondering this is the Federal Reserve has increased the money supply by something like 28% if I recall correctly since March. Could the amount of currency in M2 or M3 be a factor in understanding the charts?