Tuesday 26th November 2013
The charts below have turned me bearish. So I've shorted the major US indices.
Valuations close to decade highs
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| S&P forward P/E approaching 10 year highs Source: Bloomberg |
Investor sentiment turning down
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| AAII US Investor Sentiment Bull to Bear ratio compared to S&P Source: Bloomberg |
Pitiful volume throughout the latest bull market and getting worse
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| Prior bull markets and associated volume Source: Bloomberg |
VIX index at lows - is the market complacent?
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| VIX Index at lows Source: Bloomberg |
AUDUSD decoupled
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| AUDUSD compared to S&P - decoupled Source: Bloomberg |
What is going on in China???
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| Chinese BBB 5 Year Corp Credit Yield Source: Bloomberg |
World GDP forecasts cratering while market at all-time highs
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| World GDP consensus forecasts, %YOY compared to S&P Source: Bloomberg |
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