The Media is now uber bearish, the traders posting on trading view now have a lot of bearish posts, and when I talk to the common people that do not trade, or even know what price action is or that people use charts to trade, these people are bearish as well and think we are on the brink of a massive recession.
Part of me keeps thinking, "can everyone be right?" And they could be, but I really don't think so. This channel we are now in and have been consolidating in and around since January 2018 say a 15 year bull market (with major dips, but price stayed in this channel) from 1955 to 1969. I am open to the possibility that the market just goes apeshit until 2035 and SPX to 10,000. That would be absolutely insane and I think a lot of people would be on the sidelines waiting for the big crash, only to finally buy when the market moves another 300%.
What could cause this? who knows, and frankly who cares. Most trading books like security analysis have to be flung out the window in this day and age with companies like NFLX with a P/E ratio of 88. Like WTF!?
ANYWAYS, like most I would like to see a crash, but I think the market rather just keep screwing with everyone like it always does.
Part of me keeps thinking, "can everyone be right?" And they could be, but I really don't think so. This channel we are now in and have been consolidating in and around since January 2018 say a 15 year bull market (with major dips, but price stayed in this channel) from 1955 to 1969. I am open to the possibility that the market just goes apeshit until 2035 and SPX to 10,000. That would be absolutely insane and I think a lot of people would be on the sidelines waiting for the big crash, only to finally buy when the market moves another 300%.
What could cause this? who knows, and frankly who cares. Most trading books like security analysis have to be flung out the window in this day and age with companies like NFLX with a P/E ratio of 88. Like WTF!?
ANYWAYS, like most I would like to see a crash, but I think the market rather just keep screwing with everyone like it always does.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.