You saw the headlines, same as I did. This story was making the rounds like mad during the first half of the month.
The historical data was indisputable. On average, the second half of February was the worst half-month of the entire trading year.
You also know how things have been going since then. Lifetime highs every day. Stocks with P/Es in the quadruple digits getting stronger. Hot inflation data being totally ignored.
In a market as well-supported as this, it seems quite clear that even the strongest empirical data has become meaningless, and in doing so, is misleading.
