Interesting insight. I don't recall the purpose of the dip from last year prior to the crash, but those dips in your second chart are a result of the GME drama. I would weigh that into your analysis and not take these as like for like at face value.
GME is a 4 billion dollar market cap stock and has no bearing on the market.
FANG stocks for example are more important and have a bigger weighting of the index. They are almost all trading off of their highs and did not participate in this week's all time high. So, there is a divergence in pricing. There's a link to that in my original post.
All crashes start with a couple of hard sell off attempts and then failed attempts to either make materially newer highs and/or get back to the old high.
Interesting insight. I don't recall the purpose of the dip from last year prior to the crash, but those dips in your second chart are a result of the GME drama. I would weigh that into your analysis and not take these as like for like at face value.
GME is a 4 billion dollar market cap stock and has no bearing on the market.
FANG stocks for example are more important and have a bigger weighting of the index. They are almost all trading off of their highs and did not participate in this week's all time high. So, there is a divergence in pricing. There's a link to that in my original post.
All crashes start with a couple of hard sell off attempts and then failed attempts to either make materially newer highs and/or get back to the old high.