There's always a case for both directions. Sure - there's a ton of worry and maybe a bit more than usual "world strife" going right now. The economy is pretty strong in the US with rising earnings. I've watched this for 35 years and I have no idea where we're going today, tomorrow or next year. It all seems to depend on what everyone wants to fixate upon for any given period of time.
Trends do not move in a straight line. You will have pullbacks and rallies, in between the larger, longer term trends. Stick with the major trend until, it gets broken and ends.
%% Good thoughtful points E180.777; many people think of 180 number as a reversal. BUT SDS is up today ; QQQ is up better % for the week [as of 10:36 CST, WED,3-23-22[ ; see how QQQ+SPY, close on FRI
I think the trend is now up because apparently the rest of the world also thinks that the trend is now up. Of course there will be pullbacks and corrections. Of course there will be more disasters. Yeah, the "big crash" is always looming like the monster under your bed, except it is more real. But the overall trend will always be up, if you look at a broad enough timeline. We hit a nice bottom, a good buy opportunity for long term traders and investors. The previous "all time high" will be eclipsed within a year. Two at the most. Granted, I am just using Growley-Logic™ and extrapolating from the charts, but not just this week or this month or this year's charts. Look at the history of the market. Bear markets are very real and must be acknowledged, but they are just part of the stair step nature of the overall market. They only last until enough buying pressure starts driving up prices again. Will today be an up day? Will this be an up week? We got to wait and see. I am in long, in both senses of the word. Will this be an up decade? You can bet on it. Smart guys will be like, "Duh. Nothing new, here." Not so smart guys need to realize you can go with a bearish trend but when it turns around, it is a lot easier to go with the bullish trend than to fight it out of contrariness.
Dunno... The tech sector took a 50 to 80% dive over the last 3 months. I wouldn't call that a correction.