In spite of everything I said in the last post (in which I dismissed the notion of any market weakness in 2026), I’ve got to say that, looking at these long-term ratio charts, I asked myself one simple question: when was the last time that the market was configured like it is right now? The answer is either September 2007 or August 2008, depending on the chart. Hmmm. Gosh. What was about to happen back then?
