Not overstretched, but overshadowed

The ASX is not overvalued. Unfortunately that’s not true for Wall Street, our key overseas market.

It’s been almost seven years since the global financial crisis started and three years since the last US sharemarket correction. Historically, crashes happen on average every three to four years and corrections almost every year, so it’s little wonder that many expect something bad to happen soon.

A chart of America’s S&P 500 share index certainly suggests that it’s getting top heavy relative to either its red linear regression channel or it light blue standard deviation channel.


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