As long as BUBBLE ben bernanke keeps printing the market will keep moving, however that has to stop eventually and when it does everyone will finally realize the economy is actually worthless and cant do anything on its own without the help of continuous money printing of worthless dollars.
it is so funny how 90% plus here have been bearish since 2009, 2010 etc...yet the market has gone up yearly. is there a chance that so called money printing is not the only reason? heaven forbid that earnings are marking equities to FV?
I don't think anyone is making the point that the market is wildly overvalued relative to earnings but those earnings are only possible with the FED floating the boats. As long as money continues to flow without inflation roaring the market can go higher. I think what most are saying is that this market is overvalued if that support ends. In the meantime the bulls can move it higher and maybe much higher.
Thats what people fail to realize is that earnings over the last 4-5 years have only been good because of the BUBBLE ben bernanke pumping machine. I have no clue why people fail to realize this..... that without the trillions of dollars that have been pumped into the market that earnings would have never looked as good as they looked....take away every dollar that BUBBLE ben bernanke has pumped into the market (TRILLIONS AND TRILLIONS of worthless dollars) and there would be no earnings growth at all! Just one single day without the money machine pumping would send this market into a free fall!
I think just the hint of the money machine being unplugged sends it down fast and hard. But, in the meantime ...