Rozner: It's a Bear market everywhere you look

I confess to being a CNBC addict, among my many other bad habits, like golf, watching 1980s-era hockey on YouTube, consuming any video of Walter Payton or Michael Jordan and binge-watching documentaries.

By the way, if you've got 4 hours to spare, the Peter Bogdanovich epic on Tom Petty and the Heartbreakers is worth every minute.

You can't tell me you don't have 4 hours to spare while locked in your living quarters.

Anyway, I've been amazed by the market cheerleading on all the business channels the last two years, even with a parabolic move up that made little sense given poor fundamentals, increasingly decoupled from absurd valuations.

While a few experts flashed warning signs, most just gave us, "Buy, buy, buy."

Government debt is soaring and corporate debt has never been higher, but with the Federal Reserve lowering rates and raising its balance sheet with quantitative easing - or however they disguised it - huge corporations bought back stock.

Some of them now need bailouts.

The Fed went into the business of trying to prevent a recession instead of doing its job, and so every market temper tantrum when the Fed tightened or lowered its balance sheet was followed quickly with a Fed response to keep the markets happy.

Money was cheap. And any time the S&P went down, mostly what you heard was, "Buy the dip."

Buy the dip. Buy the dip. Buy the dip.

There could never be another recession. The markets will never go down. Rah, rah, rah.

And in the process the Fed helped create this massively overbought market that was doomed to sink. If it hadn't been the coronavirus, a massive market correction was nevertheless inevitable and the likely result of an exogenous event.

When the S&P dropped to 3,300, it was buy the dip. When it was down 5 percent, it was the greatest buying opportunity ever. And with every percent down, it was followed by, "Buy the dip."

And now we're down 32 percent from the S&P highs.

Don't mistake my point, because somewhere in the next few days or weeks or months - maybe it's right now for all anyone knows - there will hopefully be a tremendous opportunity to rebalance your 401(k), but for weeks they've been telling you to catch a falling knife.

And now many of the same analysts are saying you better wait for it to drop another 10 or 15 percent.

They're not all guilty to be sure, but plenty are forgetting everything they said about how history and technicals tell us a story, and the charts are always right. Until they're wrong.

Gamblers know the trend is your friend - until it's not.

Speaking of Bear markets, it's reminiscent of all the pompoms for Ryan Pace and Mitch Trubisky, and so many of Pace's awful draft picks.

The man could do no wrong. And six years into the Ryan Pace Rebuild, the GM has been wrong about so much, and so have those who led the cheers.

After parabolic enthusiasm, on the way down it was buy the dip, buy the dip, buy the dip.

Now, most have turned against Pace, and think he's on the way out unless the Bears reach the Super Bowl next season.

As in, wait for another 10 percent down.

Perhaps, this is good news for Pace and Trubisky. So many have been so wrong for so long, and now most have abandoned the GM and QB.

Is a bounce coming?

History tells us it's unlikely. Then again, the technicals and charts are always right - until they're not.