Up 600 points today why?
Why did Bitcoin reach $70,000 at one point?
Markets are very rational over the long term.
Markets can be quite irrational in the short run.
You're seeing people betting that earnings won't come in too bad.
<shrug> We'll see. It's understandable the initial bank earning weren't bad. They tend to do well in higher interest rate environments.
Other industries not so much.
I wouldn't sweat the daily fluctuations. I'm withholding judgement until the end of the month. I want to see the full earning results and see what the Fed raises to next meeting.
Nothing I've seen makes me think the market has bottomed. With VIX at 24, I've not seen anything looking like capitulation, which is generally a prerequisite to a bottom.
