My point being that there is an alternative interpretation to "stock market bubble".
Some people call it "Crashing Up" - the dollar losing value and the stocks are the worth the same relative value.
There's also the phenomena of people who just "Buy the S&P" using an index, over 40% is held in this way, and there is a mechanism for prices going to infinity or zero because non-Index holders know the buys have to buy no matter the price, so make no match offers to sell. And when people cash out, non-Index buyers know you have to sell no matter the price, so don't match sell offers.
Go look at the Venezuela index
https://tradingeconomics.com/venezuela/stock-market
My point being that there is an alternative interpretation to "stock market bubble".
Some people call it "Crashing Up" - the dollar losing value and the stocks are the worth the same relative value.
There's also the phenomena of people who just "Buy the S&P" using an index, over 40% is held in this way, and there is a mechanism for prices going to infinity or zero because non-Index holders know the buys have to buy no matter the price, so make no match offers to sell. And when people cash out, non-Index buyers know you have to sell no matter the price, so don't match sell offers.
I don't really have enough breadth. I just watch George Gammon https://www.georgegammon.com/ on YouTube