Yeah. We've never seen a more unstoppable market than this and they won't let anything pullback even 2-3%. Some stocks have gone weeks without a single meaningful red day, some have doubled during this time. This is what true euphoria looks like.
Forever Bull Market
- Thread starter v-shape-0DTE
- Start date
YM looks great here at 37555 for a long if you're flat. Nice dip.
HOLD!!!
HOLD!!!
Maybe 38k ish. Then maybe a 100-200 point pullback. Then on to 40k ish?
Maybe 38k ish. Then maybe a 100-200 point pullback. Then on to 40k ish?
38K now
pullback? LMAO what does that look like. Day after day of green and low volatility.
Not sure if you're trolling or not, but since the stock market topped out early 2022, we've had 6 separate corrections exceeding 9 % or more. The latest one from July to October this year at - 10,92 %.
Using a larger filter, the entire correction from January 2022 to October 2022 was down - 27.54 % (1327 points) from high to low.
This latest rally is very impressive, though. + 674 points for a 16.42 % gain off the lows in 8 successive up weeks.
The point I've made all along is that this is a new type of market and I've been proven right. I'm aware of what this did in the past before we had everyday 0DTE and before the fed took complete control of this market like it's done now. We never had a period like this where the most basic pullback can't happen and every small (tiny) dip is instantly V shaped. I still don't know how this every pulls back. Like it would a true out of body experience to see this have a 1% down day at this point.
I've traded those before and am well aware of what's happened in the past.
I'll tell you something else, I used to trade this idea that QQQ over a 3 day stretch would fall $10 or so from peak to trough. So on Tuesday you could get it to hit 410 and by Thursday it would clip 398 etc.. That happened the past 2 times it broke 400 (2021). That doesn't happen anymore. Market doesn't work like that.
I'm not trolling. This market doesn't go down anymore or pullback, it can't and I keep having to defend this, but I just don't see how it goes down again like it used to.
So, you're making a conclusion based on the last 8 weeks during one of the strongest seasonal windows of the year?
That's hardly statistically significant.
Also, it's not the first time in history someone says, "This time it's different."
I can tell you with 100 % confidence that the US stock market will at some point in the future correct substantially. And it's always the same chatter during a market top where the crowd think the market will continue upwards forever. One perma-bear on ET literally retired from trading at the very top in 2022.