Don't discount midterm elections and a win by the GOP of both houses, the party that says it worships God but actually worships money and corporations. Democrats have just shown that despite power in all three institutions that they don't want to serve the middle class but that all leaders are beholden and handcuffed by corporations and their lobbyist ilk. That's all good for stocks and bad for the broad population. It greatly benefits the elites.
I just can't believe the bear market that follows a decade long bull market created by QE only lasts 6 months.
Gasoline prices have dropped, but food and electricity that's powered by natural gas have not budged.
Only if inflation continues to decline, and the Fed signals a pause/pivot. Which I do not think they will. Not yet. Putin going away would certainly help the bull cause!
The bears had a nice opportunity today. Overbought conditions and a nice shooting star in all the indexes yesterday left the field wide open. Bull's mopped the floor with them bears. Today's volume was weak, yet we closed at the highs. Its pretty much over for the bears at this point.
Why did the market sell off yesterday only to come back at almost exactly the same high as yesterday? The RSI on the QQQ dailies is 72 so it can probably go to 80.