Are the markets stalled at their prices since 2020. I see them moving next few months up? Undervalued.
Hey wis. That's entirely possible. I liked this post from MarcyDarcy (@anotherdevilsadvocate) from a few weeks back in the daily market discussion thread. The majors have been largely trading in the same-ish range since this time last year. Basically for a full calendar year, excluding a few fake outs on the up and downside. But actually you'd be correct also. Looks like cash SPX was trading in the 3900s in December of 2020. That was after we had the massive bounce off the COVID low. Effectively, the markets have been very range bound for a long time now. Definitely primed for a directional move one way or the other. I know many are putting bets for a move higher from here. Makes sense, after the past year's bear market that we've had. But, meh. I'm not quite sure if I'd put myself in that boat just yet. Still feel like we haven't seen the true washout capitulation during the entire length of this bear yet. Of course, that doesn't mean we actually have to see it. But, I'm just not totally convinced if new highs are to be seen until that day materializes. But, doesn't mean we can't have a nice run higher until then. GL to you and everyone rest of the way out. I'm taking a nice break from all things markets after today haha. Also, 'tis good to see you back actively posting again wisconsinstock.
Hopefully not everyone and their great grand mothers are thinking the same thing haha. I guess it's a good thing that there are still folks like myself out there who are still feeling a little suspect about it. That probably gives fuel to the big run higher sentiments out there.
