The S&P 500 Looks Like 1987 Again. What’s Different This Time?
Our composite Valuation indicator is at similar levels seen just before the 1987 Stockmarket Crash.
Does that mean the market is about to crash? 👀 🤔
Maybe, but back then there were catalysts --you can't look only at valuations, you need the bigger picture.
$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2609(ESmain)$
This is a sign of the times.
Because we’re in a raging bull market with an almost frantic sense of greed, we saw record trading in leveraged-long US equity ETFs during the latest market dip.
We saw this type of thing in late-2021 too, and it looked like smart money for a moment there...
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