Are we not in the longest down trend since early 2016?

I have more doubts than belief in chart techniques, but there is a reason for such a long down trend.
I refer to the stock markets, I do not follow the digital coins market long enough to reach such observations.
Government expenditure in the US is at all time highs, but the Federal Reserve might be true to its words in reduction of its balance sheet.
Now the ECB stops its asset purchases.
Tariffs are deflationary, but are not going to rise until January 2019, and may even be reduced then.
I also heard that the selling pressure is the highest since 2009.
Short covers, dip buyers, buybacks and US record government expenditure support prices, but fail to push them to new records.
If buybacks are expected to continue, I expect prices to establish a new up trend soon, but which NASDAQ or S&P corporations intend to buy back their shares?
These corporations are a part of the deep state, so they have the insiders' insight.
Recently (2018 December), I heard that buybacks are at a record high.