I have been reading and hearing a lot of brokers, writers and commentators talk about a likely stock market dip. What most of them are saying is that it is going to be a great buying opportunity. I seriously doubt it. After a 12 year bull market, with most valuation metrics at all time highs, and everyone programmed like “pavlov dogs’ to buy every dip, they are likely to be making a big mistake. While I have said recently that the stock market has topped, and agree a dip or correction is either already under way or soon will be, it isn’t going to accomodate the crowd. The likely scenario will probably play out in one of two ways. We continue down, possibly sharply, if there is some sort of debt ceiling crisis and get a bounce when the crisis is addressed. After that the market will roll over and depending on what is going on at the time and what the FED does, either accelerates to the downside or just drifts lower at a slow grinding pace, likely over a period of two to three years. Either way the highs are in. Many are expecting a bear market but see the expected dip (that they plan to buy) leading to a “melt up” first. What do you think the last 18 months or so have been since the March 2020 Covid crash? The averages have topped, the technicals are deteriorating and even if a crisis is avoided and the market spikes, it is very unlikely that new highs are made.