Markets are OVERVALUED by 70%..!!
About a year ago I began to tell everyone that Global Markets were EXCESSIVELY overvalued to the tune of 60%-70% based on a rapidly slowing growth projection and an unprecedented growth in DEBT and DERIVATIVES.
As you would expect I lost a lot of friends over it and realised I had to change my strategy and tone down the prediction.
I decided to bow down to peer pressure and softened my view that Global Markets were slightly over 30% overvalued. This way I could keep what friends I had left without having to fight too much on my case.
Then this caught my eye yesterday..!!
I have a huge respect for ZeroHedge and the work that they do and see them unmatched in the field they cover.
I have decided to maintain our current projections though still believe that an overvaluation of 70% is closer to our revised 30%..!!
Below are the "toned down" Targets we believe the Markets are heading to and will review these when they drop closer to them.
On average we have a set a conservative Target which represents slightly under a 30.00% drop..!!
NASDAQ
Current=5,237.21⇘-12.47⇘-0.24%
Bearish⇘⇘⇘⇘
Target=3,180.00 -39.28%
DJI
Current=18,116.47⇘-96.01⇘-0.53%
Bearish⇘⇘⇘⇘
Target=13,850.00 -23.55%
NYSE
Current=10,526.30⇘-76.64⇘-0.73%
Bearish⇘⇘⇘⇘
Target=8,180.00 -22.29%
SP500
Current=2,136.51⇘-10.75⇘-0.50%
Bearish⇘⇘⇘⇘
Target=1,450.00 -32.13%
Thanks for reading and feel free to share.
Stephen
Thanks to ZeroHedge for the article.