The BULLISH scenario is depicted by the GREEN labels, while the BEARISH scenario is shown in RED. The important trendlines have been added to help discern whether the market is having a BULLISH breakout or, conversely, a BEARISH breakdown.
Market sentiment is leaning towards being excessively pessimistic, which as experienced traders are aware, is quite BULLISH from a contrarian perspective. However, an argument can be made that we are in different times and the adage 'You ain't seen nothing yet' might describe what is ahead for investors, politicians, bankers, and the general public (globally i.e. EVERYONE).