Think about it. The S&P 500 is up over 200% since the lows in March of 2009. We have had near zero federal funds rates for more than five years. We have not had a 10% correction in over three years. And worst of all? The S&P 500 is trading at an incredible 18 times trailing earnings. Everything is in place for a pain-inducing correction.
For now, Michael Hartnett, the ever crafty and outstanding chief investment strategist at Merrill Lynch, says there is no bear market dead ahead. What he does point out in splendid detail is that during a recent marketing trip to Europe, he discovered that while many believe that consumer data here in the United States is poised to improve, faith in the overall U.S. recovery is beginning to crack. All one has to do to justify that is to look at the incredible weak -0.7 gross…
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Dr. Alessio Lidozzi 