lamasheen

lamasheen

Any way you slice and dice it, equities are still way overpriced considering where rates are. At 18 P/E, its in the upper range of valuation relative to yields. Minimum downside target is 3400, possibly 3000 area.

lamasheen

Next stop is that top yellow uptrend line in the 4200 area and then targeting 4400 by end of March. I suspect that might be the top for the year. Will re-assess once it gets there.

lamasheen

SPX has one final leg down and it will base around 300 before forming a base and hopefully going back higher. There will be an overshoot past 300. If you zoom out far enough you can see where the long term trendline is.