SPX has had a weak few days fast week, we've had some good quarter reports but is it really enough to hold us up at current levels? I think not, and heres why.
P/S versus subsequent returns is far far away from reality, Forward P/E is trying to go to mars, S&P % of Members Above 200D MA is peaking ATH, Margin debt for accounts at brokers/dealers are at extreme ATHs (Margin Calls can occur), We're seeing hints of inflation, Commodities is reaching for the moon, (Lumber, Corn, Soybeans, Copper etc.) Buffet-Indicator: US MKT CAP / US GDP is peaking extreme ATHs, nearly no AAII Bears, Please let me know if I missed anything.
Markets can of course keep driving up the road but please have what is said above in mind.
I am not saying It is gonna crash but its definitely looking like a 2009 overshoot + some.
P/S versus subsequent returns is far far away from reality, Forward P/E is trying to go to mars, S&P % of Members Above 200D MA is peaking ATH, Margin debt for accounts at brokers/dealers are at extreme ATHs (Margin Calls can occur), We're seeing hints of inflation, Commodities is reaching for the moon, (Lumber, Corn, Soybeans, Copper etc.) Buffet-Indicator: US MKT CAP / US GDP is peaking extreme ATHs, nearly no AAII Bears, Please let me know if I missed anything.
Markets can of course keep driving up the road but please have what is said above in mind.
I am not saying It is gonna crash but its definitely looking like a 2009 overshoot + some.
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Inverted SPX
