While I agree with your sentiment, I tend to think the market is a bad indicator these days.

There's no real value, fundamentals have been lost. Companies that make no money, can survive, seemingly indefinitely, on hope and fumes. The govt largely prints out whatever money any company it deems worthy when they see them struggling, likely for a favor later..

Until the US loses the status of being a reserve currency, I think it's unlikely using the market reflects reality.

I think it's still useful to look at certain sectors that most people don't to see what's actually happening,( e.g. the bulk shippers have always been a great indicator if how things are going etc. )

Ultimately, truth it seems is the rarest commodity now.