The analysis I've presented has been strictly naïve, not shaped by any preconceived notions, and based on a long run (1950 to 23 March 2018) of the US market.
Ghost of Igloi wrote:...that assumption is made at record high valuations and ignores almost all fundamental metrics. That is true of idiot’s charting as well.
I don't pretend what I've shown means anything in particular, and anyone is free to read the tea leaves I've presented in whatever way they like. My inclination is to believe it says virtually nothing much about anything; same as mostly all daily financial news. I really think there's very little we can "predict" about financial markets' behaviour; at least that's the main conclusion I've drawn from all this. Although it is surely tempting to make more of it all than that... :-)