Shorts Throw in the Towel, So It Could Finally be Time to Short the Market
goldstockbull.com / By Jason Hamlin / August 15th, 2016
U.S. stocks hit record highs today, boosted by expectations for continued easy money from central banks around the globe. The rebound since the huge crash caused by the 2008/09 financial crisis has truly been something to behold. From the low of 667, the S&P 500 has now more than tripled in roughly 7 years. Despite multiple economic indicators suggesting that stocks are overbought and overvalued, they have simply continued to push higher.
But stocks have a tendency to move in 7-year cycles and this current bull market phase in equities may finally have run its course. A 50% retracement of the gain since the 2009 low would equate to the S&P 500 index sinking to 1,400, a drop of 36%. If the correction is comparable to the last crisis, we can expect a decline of 50% or more.
I believe this type of correction is inevitable, as central banks run out of ammunition and realize a sharply diminishing return on their stimulus efforts.
The post Shorts Throw in the Towel, So It Could Finally be Time to Short the Market appeared first on Silver For The People.
Source: http://silveristhenew.com/2016/08/16/shorts-throw-in-the-towel-so-it-could-finally-be-time-to-short-the-market/
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