I mentioned being bearish before, but it broke through the resistance line I drew. Now, the opportunity to be bearish has returned because my technical indicator is that once it breaks the new high, it should not fall below it again, otherwise the trend will change significantly. I estimate that the probability of such a change can only be due to expectations of further interest rate hikes. Therefore, I try to avoid crowded places and, as Warren Buffett teaches, increase cash holdings in the current market.
I believe that with the Labor Party coming to power in Australia, they may be trying their best to maintain it, but it may cause chaos, using government spending to prop up the market situation in a very forced manner.
$Goodman Group (GMG.AU)$

In the recession1969, the $S&P 500 Index (.SPX.US)$ slumped 34% from peak to trough and by around 20% before the recession began in 1969. Similarly, the market already had a 20% down in the past year.