Couple of interesting charts worth looking at today.
First one shows S&P 500 vs corporate profits. The gap has become a chasm.

Second chart indicates that it doesn’t matter ‘coz of liquidity.

Price discovery used to be a process of buyers and sellers determining fair value for an asset.
Now, it’s only about supply of money vs supply of stock…even bankrupt stock.
The key is, don’t get bearish just because this offends you or doesn’t make sense to you. You don’t have to play.
Yes, it will all come crashing down one day…but good luck predicting that day ahead of time. Follow the tape.
Good trading everyone!