The dividend yield on the S&P Composite is now a micro 1.98%. At the same time the margin account on the NYSE is at a record high. The Dow and the S&P are both at record highs, and at the same time the VIX is near record lows. Thus complacency reigns in the face of a market that is near record levels of overvaluation.
This is a stock market that is not ready for any negativity or bearish developments. In the meantime, John Williams of Shadow Statistics warns that the government, in its desperation to paint an optimistic picture on the economy, is putting out phoney or doctored information.
The stock market is famous for forecasting the true story regarding what lies ahead. As I read it, the stock market is saying that good times lie ahead. Of course, the stock market can "change its mind in a day," but so far, the ... Log in or subscribe to continue reading.
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