Stocks in global terms have fallen by 0.8% since we marked the markets for the first time this week. For the year-to-date, stocks in global terms are actually down 2.2% while stocks here in the US as represented by the S&P are up 1.7%. Further, the bear market that began in late May of last year when our International Index hit 11,185… its all-time high…is now...
We begin then by noting that the CNN Fear & Greed Index is still above 80 in openly “greedy” and thus openly over-extended-to-the-upside territory. Some might call this “nose-bleed” territory and we shall strongly… indeed very strongly…suggest that buying equities here shall be in the end an ill-advised investment philosophy or action.
We remain, however,...
