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Are US Stocks Set For a Major Reversal?

Both the truck transportation and durable goods manufacturing sectors lost jobs in September, even as the economy added jobs overall.
"Where we are is trying to measure how uncomfortable people are with their positioning. There just hasn't been any follow-through in any rally we've seen in the past few weeks. That's very telling.."
Everyone is expecting a recession in 2020 or beyond, not before, and markets have a tendency to surprise us on the downside. Once a bear market develops, it could get really nasty, really fast.
There is a tremendous amount of herding going on in the market, which is good until something goes wrong and everyone is looking to exit at the same time.