If I am reading the above chart correctly, just maybe the "Bulls" should not get too excited, because previous market tops correspond to today's current readings. Just take a look for yourself. But, I know most of you are saying, but this time is different, because the Fed has our back. That is, one giant "PUT" at current prices. However, if you look at the history of this ratio, it has happened 15 times in the last 24 years with stocks falling 79%
of the time in the following 3 months.
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