Wow didn't realize they dipped like that...interesting.
I have a theory developing in my head. Everyone is waiting around for the mega crash to happen. Its going to be devastating...stocks will be worth a fraction they are now.
I think its basically been happening very stealthily for the last year. Go look at nothing but 5 year charts on companies. You'll see that small caps and retail names have mostly already crashed.
Zillow was at 200 peak....at 50 other day.
Lemonade at 200 now 50 is.
Chewy 200 to 70.
Hims 25 to 7
Shift 15 to 4
Sdc 15 to 3
The list goes on and on.
First it was the retail and small caps. Then it was the covid plays....Moderna, tdoc, zoom, etc.
Look at their charts and you'll see it go str8 up parabolic and they're almost back to square one.
The other stocks that don't apply are the mega caps and fangs. Their charts are still str8 up and hence the indexes are near highs. They still are holding that massive parabolic move.
Will they follow suit and come back to earth?? Obviously when they unwind well get the crash in the general market that everyone's been predicting.