Useless & potentially deceptive stats IMO. As the years go by & the index values rise with each bull market, the daily point gains & losses increase proportionally to the total value of each index. Hence, only percentage gains provide an accurate comparison to previous record gains & losses. Of course, the media is in the business of selling headlines that get clicked on, hence they will always jump at the chance to post irrelevant headlines such as those.

Tom Lee? The same Tom Lee that predicted $100,000 Bitcoin by LAST Christmas? ???????????????? … stick with Randy!

Agreed. Time may be the primary capitulation factor instead of a sudden drawdown. This is a relief rally that will end soon enough. Inflation isn’t going anywhere and when earnings start reflecting the recession has arrived equities will drift lower for sure.

We all will be doomed if it goes to 4400 bcoz it will break August highs which mean higher highs, which mean its a new Uptrend and also it clearly will break the Trendline!

It’s been impossible to maintain bearish positions, and my account values have swung wildly in the past two months. Although I have yet to unwind all my bearish positions into today’s move, I did make a lucky play and not only stopped out of some bearish futures positions, but I also added long positions into those stops. That helped keep my P/L fairly flat for the day, but I definitely have some work to do to decide whether or not to close out all of the many bearish plays I’ve gathered in the last few weeks.