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Babak

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7 Mar, 5 tweets, 3 min read

The view from 30,000 ft... a very long term chart of stock market #valuation (via 3Edge):

Similar, but slightly different #valuation gauge from Bridgewater:

S&P 500 Price to Forward Earnings Ratio remains below its pre-pandemic highs but still very stretched historically #valuation

via NDR h/t CMG

S&P 500 Price to Sales Ratio closing in on a 3 handle. Remember when we freaked out as it meandered in the 2's? Yeah, good times.

via NDR h/t CMG

@LeutholdGroup

In case there remains any doubt... yes, the stock market is rather bonkers right now.

charts by @LeutholdGroup via @MebFaber

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Babak

@TN

24 Oct 19

Lowry Research 1/7:

"the forces of Supply and Demand suggest the market is consolidating its gains from the Dec 24 2018 and June 4 2019 lows through this sideways trading rather than forming a significant topping pattern."

edgeandodds.com/smart-investin…

Lowry Research 2/7:

"Thus, the probabilities are this period of consolidation will be resolved to the upside through a rally that carries to new all-time highs. (…) Historically, breadth tends to lead price in moving to new highs."

Lowry Research 3/7:

"Thus, if precedent holds, the new highs in the various Adv-Dec Lines reinforce the probabilities the market’s current sideways movement will be followed by a rally that carries the major price indexes to new highs in the months ahead.”

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