The Titanic represents a vibrant healthy bull market in stocks, considered unsinkable, with nothing but positive bullish expectations projected and extrapolated as far as the eye can see. The ship is teeming with short-sighted occupants, who even after they are told the ship will certainly sink, and it's current place above the water line is unsustainable, are so locked in denial they don't demand to get into the half-filled lifeboats.
The reason I use the Titanic for comparison is the actual dynamics of the ship sinking and a bull market ending are virtually the same. The ship floats on water because its average density, due to an air filled hull, is less than water. A bull market floats via (hot) air as well, and as that air is displaced with the frigid waters of reality, it begins to sink. As the bull market transitions to one pointed straight towards the ocean floor speeding through the depths, the machinations of price are hauntingly similar to that of a sinking ship, especially the final throes which most describe as unusual volatility. Especially those final price spikes (false rises) at the tail end, such as we saw last week in the indices. It's awe inspiring to say the least, and always happens just before the plunge begins.
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