A finance news article which makes quite a few good points.

marketwatch.com - Mr market is a drunken psycho why this hedge fund manager is shorting some of the markets biggest names

"Lastly, he notes violent speculation in call options ' the right to buy an asset at a future time at a specific price, often viewed as bullish ' that has coincided with topping action for stocks in the past. He also noted that short sellers capitulated last week, resulting in the biggest amount of short covering in a decade. "There are simply too many made up narratives on the markets ' in an attempt to explain the daily moves,' says Kass. 'They are a reaction to the notion that 'price is truth,' which ends up influencing sentiment and clouding the facts."

see also: https://images.mktw.net/im-718784

which is stunning, considering what 2021 was like

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Also saw this interesting article, noting how long paradigm shifts take to occur in human culture:

msn.com - Big short hedge funder says he thinks we re headed for a run of the mill recession but the bigger paradigm shi

"Markets have long periods of paradigms where certain groups are leaders,' the hedge funder told Bloomberg in an episode of the 'Odd Lots' podcast Monday."

"'When Einstein created his theory of relativity, for example...It's not like everybody said, 'Oh, we've been waiting for Einstein, thank God, now we can get rid of Newton.' It took several years for people to realize that that was a better theory. I think something like that happens in markets,' he said. 'Paradigms are so deeply ingrained in people's brains they can't even imagine, at times, that there could be anything else.'"

"He described how former stock market leaders were overtaken during past market paradigm shifts like the one happening now, noting that the financial stocks which outperformed before 2008, 'literally did nothing until 2020.' 'Call it a dozen years where the old leadership group evaporated,' he said. "

"The hedge funder went on to argue that the rise of the growth and tech stocks that were market leaders to start the year is an example of how 'people don't give up paradigms easily.' "