Equity allocation among retail clients has broken out to new highs at 64.3%. Compared to previous high of 62.5% in 2015 and 56% in April 2007 just as many stocks were starting to turn down before financial crisis was at its worst a year and a half later.
Level of bulls will have to move significantly lower and will have to crawl over to the bear camp before a meaningful bottom can be put in. Before then, there's likely to be aggressive selling & extreme oversold condition in the market. Risk/Reward setup.
Prices are straight UP since last Summer. Assets are going UP bc there IS inflation & purchasing power is going DOWN Bond mkt has been in nasty down trend & will need to adjust higher Will create multiple compression in stock mkt & cap rates in real estate
Unprofitable IPOs just hit 80%...same level near the peak of the Internet Bubble. More money is chasing few quality investment ideas. Nearly everything is getting bid up. Best opportunities are at extremes. We are at an extreme with unprofitable IPOs.