Could it be that market cycles are shorter now, versus back then in 2008? Also, we probably have more participants in the market now compared to prior years. More investors, traders as it has become more accessible. More people learnt from 2008 crash to buy the dips on indexes like the S&P as there is a very high probability of it only going higher.
But, here's what I mapped out on the 1D chart from 2008 crash versus the 1D chart now. Could we be in a period of consolidation at point 6? or are we only at the tail end of point 5? Could market take a turn for the worse with recession? Or are all the scares just not coming through in numbers?
Indeed, we came close to a key level of pre-covid highs. But, I would still be calling for sells based on technical analysis, but will have to wait for confirmation. There is also a probability for continued upside.
Wow -- nice.... except a bigger bubble in Real Estate in 2022 - and higher inflation and rates that need to go a LOT higher---- so definitely agreed.... Wave 6 still has to crash in 2022