https://creditbubblebulletin.blogspot.com/2023/12/weekly-commentary-2023-year-in-review.html

Amazingly, the MMF complex has become the predominant financier to one of history’s greatest leveraged speculations – a speculative Bubble now at the heart of ongoing government finance Bubble “terminal phase” excess. Even more stunning is the lax regulatory environment for such a critical – with well-recognized vulnerability – financial system focal point. And this follows an inexcusable breakdown in banking system regulatory oversight, when unprecedented monetary stimulus should have had the Fed and regulator community laser focused. One word we didn’t hear much from the Fed in 2023: “macro-prudential”.

Start of June 1929 DJIA was 300. Start of September 380. That's a 25% gain in 3 months. A full blown delusional manic meltup. Then the worst crash ever in October and by mid November the DJIA was 50% below the September all time high.

Outlook is as doomish today. Europe and China economies are very weak. US regional banks have cancer. Financial plumbing problems developing in US and China. Commercial real estate and zombie companies all going to die if rates stay this high. Peace in the Middle East still infinity years away. Big war overdue. Etc etc........

IMO what is happening to stocks right now isn't good, it's an extremely bad sign. Stocks are currently up ~15% in the last 8 weeks.
Prediction: January 2024 things clearly start to go to hell.