So here is the thing. During a bull market or very bullish phase, indicators give the all-clear. Come on in, the water’s fine! Investors are always going to be complacent and market/economic signals at least stable (or quite positive) at market tops. It’s the way the markets work. Recall 2000 and 2007. As Steven King would say, “nope, nothin’ wrong here.”
This chart from MacroMicro illustrates the point. During a bull phase in the markets things are fine… fine… fine… and then suddenly, out of nowhere, NOT fine. So pictures like this tell us what we already know; the market is bullish and the waters are calm.
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