Even though a number of cross-currents remain to batter stocks, I’ve gotta point out that no market top or market bubble has been so widely advertised as this supposed one is.
In other words, it would be extremely rare for the market top to appear or market bubble to burst with such clarity from so many pundits.
No, what happens first is everyone gets on board the supposedly easy rocket ride to the moon without a thought to the risk of loss.
The top may be seen in hindsight, but never with so many calls as to when it’s supposedly happening. Just doesn’t work that way.
Having said that, I can hear some rebuttals that this time it’s different.
Talk about throwing more gasoline on the fire. Is that the most expensive phrase, this time it’s different?
Okay, sure, at some point the market will turn lower. Bear markets follow bull markets. But until our main market timing model that we call ATM turns bearish, there is simply no more to be done, but watch and wait.
ATM is bullish, as it has been since 4/28/25 when the Dow Industrials were 7,000 points lower. For a bit more history, ATM turned bullish on 4/4/23, then bearish on 3/27/25, then back to bullish on 4/28/25.