Let me elaborate on the flatline part then.. ha. If more money is invested in mutual funds and etfs than directly into securities, it just seems like some second or third derivative of some metric is passing zero there. Speculation and day trading is needed for price pointing but wouldn't a lack of that activity relative to passive investing deflate the market by decreasing its pricing accuracy? Totally abstracting here.
%% I probably should have , mr mattyoung, made a certain partial disclosure; i HATE sideways trends/slop chop-flatlines LOL. I can stand a line chart......