View: Hussman Funds - Weekly Market Comment - Not in Kansas Anymore - Ma...

The chart below highlights each point in history that we’ve observed the following conditions: Overvalued: Shiller P/E anywhere above 18; Overbought: S&P 500 at least 7% above its 12-month average, within 3% of its upper Bollinger bands on weekly and monthly resolutions, and to capture a mature advance, the S&P 500 well over 50% above its lowest point in the prior 4 years; Overbullish: a two-week average of advisory bulls more than 52%, and advisory bears less than 28%. Rising yields: 10-year Treasury yields higher than 6-months earlier.