Forget the market, look at your neighbours, go to the high street, count the number of people walking vs driving to the small shop!
We are already in a recession in Europe, UK and the US, it's just the data is not showing it yet. When it's down....then watch out below
This will be at the same time when the Fed (having no choice) but to destroy the bizarre situation of mid profitable companies going to the junk budgets and borrowing billions at negative rates to buy ludicrous buybacks...