12/19/2022 – A negative day with the Dow Jones down 162 points (-0.49%) and the Nasdaq down 159 points (-1.49%)
The amount mainstream bearishness out there is quite striking. For instance, Mike Wilson Turns Apocalyptic: “The Declines For Equities Will Be Much Worse Than What Most Are Expecting”
Meanwhile, the Dow is down only 6% off of its recent highs and everyone is losing their minds.
Just take a look at the Put/Call Ratio below. While off its recent high, it is still nearly on par with the March of 2020 “freak out” peak.
That is too say, there is quite a bit of bearishness baked into this market. And that in itself might prove to be quite bullish.
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