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But we know stocks are only up due to people's stupidity. It's not about fundamentals that generated the cycle up. This is really just about profiting on people's stupidity.
Nobody can tell you what to do. On average, people who buy and hold for the long term outperform their peers. I think the market is overvalued. I still wouldn't tell anyone it's time to sell. Markets can remain overvalued for years.
But we know stocks are only up due to people's stupidity. It's not about fundamentals that generated the cycle up. This is really just about profiting on people's stupidity.
Do yourself a favor and get out of the market. We get a lot of newbies on here, but you my friend are worst than I was when I first started out at 8 years old. I'm not joking, this advice I'm giving you is going to prevent some heavy blood gushing losses because you have absolutely no idea whatsoever what you are doing.
The Dow Jones Utilities index is already lost 14.33% from the top seen on January 28, 2015. The Dow Jones Transports is 8.6% down from it's top on November 28, 2015. The NYSE Composite index has more stocks traded closer to their 52-weeks lows than stocks traded closer to their 52-week highs. Starting from May 26, 2015 the number of bearish stocks listed in the NYSE Composite Index is dominant and NYSE is already 3.34% down from it's top on May 21, 2015.
Brief summary of the S&P 500 chart below:
1. The DJU is in strong correction while the S&P 500 is still at the top
2. S&P 500 volume is steady, so far no panic selling and no greedy buying, just quiet slide without increase in volume activity.
3. Money Flow is negative on the S&P 500 index
4. Number of the S&P 500 index stocks making new 52-week highs is dropping while the number of stocks making 52-week lows is on the rise.
5. Volatility is still at low level - current small slide did not brought an increase in volatility.
6. Number of declining S&P 500 stocks is bigger than the number of advancing stocks - declines beat advances.
7. Summary volume in the group of the declining S&P 500 stocks s bigger than summary volume of advancing stocks
This reminds me of those commercials where people get notification of them having a heart attack. I appreciate the op telling me the results from his crystal ball.
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