My previous comment was entirely about market sentiment. But it addressed nothing of central bank intervention. As long as new money is being shoved into the system, price trends can continue to go up, at least in the areas the new currency is flowing.

That is the corner central banks have painted themselves into. They can't shrink their balance sheet without creating a recession, and the recession would likely cascade into a depression, so they continue to print new money to keep the Ponzi scheme going.

Eventually it will come to some end. No one knows the when or how with any certainty because we can not know the policy decisions made along the way or how public psychology will react to market changes.

History can give us some hints but no absolutes.

John