Since 2008-2009, this is "rigged" market. If you have at least a 2-year holding period, there seems to be virtually no risk in holding S&P 500 or Nasdaq 100 as the fed will do whatever it takes no to support the market.
Got to keep the 0.01 percenters happy. Administration after administration, fed head after fed head. Thems are the real deep state. Not whistle-blowers, inspector generals doing their job or the "fake" news media (well unless talking about billionaire owners, Bezos or Murdoch for instance).
Bingo. Now imagine what will happen to index P/E ratios as this "fact" becomes universally accepted by the market, with bonds yielding zero. As a base case we could see SPX and NDX double in the next 3-4 years. Look out below if one day the Fed has to actually raise rates.
My reasons would be that only 2 months ago, the world looked as if it was going to collapse, if you mentioned LONG, you would be laughed at and now we are almost at record highs, as if nothing happened at all. Volatility has settled down. "Back to normal" phase, "waiting for the next rally". Just like the market has fooled everyone into thinking the world was gonna collapse, the same is happening on the opposite side. FED with it's cheap money will take us to the promised land, corona was just a bad dream. I could see something similar playing out on NVDA. The charts don't look that bad though and going against the trend can make one look foolish. Just one dump though, and all of the gains are erased. I could be wrong, but this is just basic psychology. Not much of use for the daytraders though Just a warning. IF we did get downward move and airline stocks made new lows, i would bet heavy on boeing. But this is some heavy forecasting and wishes..we can't know what the market will do.