Bubble Bursting: The Market Is On The Cusp Of A Big Crash
Wall Streeters Are Starting To Pass Around This Chart Showing The Market On The Cusp Of A Big Crash
Dan Greenhaus of BTIG (@danBTIG) includes this chart in his latest nightly email. It shows the current market aligned with the market in the days before the Depression.
What does the chart mean?
Dan has the best take:
Indeed, we recently devoted an entire conference speech to pushing back on the idea of an equity bubble. How do we know the story remains? The chart below, overlaying the S&P 500 today against equities in the 20s/30s is now starting to make the rounds. Without getting too personal, “chart overlaying” is lazy and this is no less so. But it does remind us that as much as everyone thinks everyone else is “all bulled up,” these views still persist and have shown no indication they are going away any time soon.
Read more: http://www.businessinsider.com/chart-comparing-now-to-great-depression-crash-2013-11#ixzz2lNmaDp3F
What Happened The Last Time The Market Was This Far Ahead Of Strategists’ Expectations?
With less than 6 weeks left to the end of the year, the S&P 500 has reached its “richest” nominal price relative to the average Wall Street strategist’s forecast. The last time the ‘market’ over-reached like this was in mid-May, right before the exuberance of a non-taper-believing investor-class was popped (oh so briefly).
Read more at http://investmentwatchblog.com/bubble-bursting-the-market-is-on-the-cusp-of-a-big-crash/#Owh4V7TfX0pxWd3x.99
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