FAANG stocks, Russell 2000 and Dow Transports may all be completing a wave B and potentially starting a wave C. Too early to say for sure just yet. But if that's the case...the overall downside is just getting started and rallies will fade.
The five year charts on at least FB, AAPL, NFLX uncannily similar, and in stark relief, of that scenario. It kind of slapped me in the face once I looked at it.
There are risky bubbles all over the place and it’s being largely ignored by some pros and most retail investors. They get swept up in it and unfortunately get caught off-guard.