You saw the headlines, same as I did. This story was making the rounds like mad during the first half of the month.
![](https://slopeofhope.com/wp-content/uploads/2024/02/warnsign-640x71.png)
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.