Social Mood Says Bear Market

Belief in witchcraft/superstition is a sign of negative mood.
LA Times: The working witches of Los Angeles just want you to be your best self

A 2017 survey from the Pew Research Center that examined New Age beliefs in America found that 40% of respondents believe in psychics and another 40% believe that inanimate objects like mountains and trees are imbued with spiritual energy.

It also found that 33% of Americans believe in reincarnation, 29% believe in astrology, and 60% say they hold at least one of these New Age beliefs.

Anecdotal evidence seems to indicate the number of people who call themselves witches is growing.

“Interest in witchcraft waxes and wanes, but it is waxing, again, particularly among young women,” says Helen Berger, a professor at Brandeis University who has been studying witches and pagans for 30 years.

When going through the list of trends including transgenderism, it is screaming negative mood. Many parallels with he 1970s and even Weimar Germany. Stocks and social mood will eventually converge at much lower levels, but stocks have a lot of decline ahead (in real terms) just to catch up with mood.