Let's be real here....if this market were trading the opposite of what it's doing now, meaning stocks persistently down day after day with very little upside, nvda the leader dropping 3 to 4% a week, spy selling off on a month to month basis, all tech stocks just being smashed around , transports, industrials, biot tech , every thing and everything catching zero buying interest....semis making multiple yearly lows and the spy down 15%-20% year to date, you damn well know the fed by now would have intervened and saved the markets, they would have had rates down below 4% or so and getting ready to implement some kind of money printing to help prop markets up....
How come equities can fall 4% in 1 single week and be considered oversold, but trade up for months and years at a time without ever being overbought? Listen to the pundits on the radio and read the articles the next time markets fall 3.or 4%, they literally will rush out and scream markets are due for a bounce and ready to run higher based off oversold conditions. But you will never hear any of them say markets are overbought and profit taking is imminent......this market only knows one way, UP...the other way down and the fed will intervene immediately....
I will say there is absolutely no such thing as FREE MARKETS!!!
How come equities can fall 4% in 1 single week and be considered oversold, but trade up for months and years at a time without ever being overbought? Listen to the pundits on the radio and read the articles the next time markets fall 3.or 4%, they literally will rush out and scream markets are due for a bounce and ready to run higher based off oversold conditions. But you will never hear any of them say markets are overbought and profit taking is imminent......this market only knows one way, UP...the other way down and the fed will intervene immediately....
I will say there is absolutely no such thing as FREE MARKETS!!!