Are we in one - slowly heading up like that DisneyWorld Splash mountain ride before that exhilarating drop into the water splash?!
The one difference between Splash mountain and the stockmarket is this:
It will feel eery heading into the final few feet of the top with a slow climb
The stock market final climb into the bubble peak will be exciting and euphoric and at a frenetic pace - suddenly everyone found that there is free lunch and money for nothing!!
And almost no one senses a drop is coming.
Here is the previous Nasdaq bubble that happened just at the dawn of this century and Y2K. The Nasdaq went up 83% between October 1999 and March 2000.
Everyone was piling on the market and talking stocks from Wall Street to Mississippi!?
When the bubble burst the market fell some 65% within one year! When something goes up 60% and comes down 60% it is not a Neutral effect...
Of course the year 2000 was an election year too - the bubble burst didn’t care about it then!!