Where Are We In This Mania Cycle?

by stockboardasset

“Given rich valuations and deteriorating internals, downside risks are increasing. But finger-waving about the risks of Fed tightening or QT, after the jackweeds at the Fed encouraged THIS, imagines one can avoid the inevitable consequences of a bubble that was wholly intentional,” said John P. Hussman.

Hussman also said, “and a reminder that the combination of rich valuations, deteriorating internals, and yield pressures (including credit spreads) does, in fact, matter enormously.”

“on what I mean by “internals,” and why they matter,” he added.

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S&P500 (monthly) hitting a brick wall at an important fib-circle. Does this mean down is the next move?

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