The markets are overvalued, overbought and out of touch with economic realities.

S&P 600 Explodes Today

Long term, the epic meltdown is set to continue resulting in a 5 year plus bear market with lot lower levels may be as low as 800 on the S and P. QE forever from the FED is about to trigger the deflationary collapse of the century as we make a major top in global equity markets.

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The market is looking like the short of a lifetime with topping action in the transports, other global indices, and commodities. High valuations continue.