Everyone is bullish nowadays. I have relatives in their 50's with zero investment experience cheering on bitcoin and GME. On the charts I am looking at what looks to be a rising wedge coupled with MACD divergence. From a technical standpoint that is very bearish, no? On the fundamental side, we have seen rising bond yields, stagnating employment (especially among manufacturing), increasing budget and trade deficits, supply shortages, inflation on the horizon, and on and on. This is also long-term bearish, no? I understand that the stock market is a casino, but how long can this game of musical chairs keep going?
I have no short positions because "don't fight the trend" and "don't fight the fed", but when does this music stop? What is the best-case scenario for the broad market over the next 3-5 years?
I have no short positions because "don't fight the trend" and "don't fight the fed", but when does this music stop? What is the best-case scenario for the broad market over the next 3-5 years?