Bear Hype or Bear Market
My contention is that what we are witnessing is an attempt to manufacture a bear market to cover a catastrophic FED Error.
I think this is where Things get sorted out. To me it looks like a broad working market bottom has been defined during the period of May 11 to June 17. While I have been focusing on individual stocks that I think will be part of a new era, the EV/Tech era, most market participants look to the S&P 500 for direction.
The average price for the S&P is 3965 during this working bottom. At this moment we see the S&P in the 3800 area, still below the working average. On the other hand there are stocks which are above their working rate average. A couple of them that I just saw on a scan are RIVN and ZOOM, will mention more later today. I think they identify the areas that will lead us out of this manufactured bear market.