📈 The "Top" is a Perspective: Log vs Linear If you’re looking at a Linear chart of the S&P 500 right now, you’re probably sweating. It looks parabolic, vertical, and due for a crash. And I have seen a lot of coverage about the $SPX now being at the top of the 6-year parallel, which means it will pull back significantly. And it may well do, but it isn't a sure thing for me. If you switch to a Logarithmic (Log) scale, the scale that actually accounts for percentage growth and compounding, a very different story emerges. On the Log chart, price is only trading at a midpoint of the channel and hasn't got above this since 2022. And many would argue we aren't in a bubble nor that price is anywhere near as extended as it was in 2022. A bubble occurs when price outruns reality. In 2026, the reality (Earnings) is actually sprinting to keep up with the price. NVIDIA Case Study: Despite its massive price, NVDA’s Forward P/E is currently ~21.7x, nearly identical to the S&P 500 average. In previous mania phases, this leader traded at 45x–60x. Broadening Growth: Analysts are projecting 15% EPS growth for the S&P 500 this year. We aren't just betting on hope; we’re betting on the massive margin expansion provided by AI integration across Industrials, Healthcare, and Tech. And so far, earnings are keeping up with that. I don't know if a top is in or not. A temporary one, maybe, as the last 2 weeks have been parabolic. But $TSM earnings were very strong, and names like $AVGO and $GOOG continue to astound. What are your thoughts?