VTI - SPY: Growing Signs The Market Is Overbought
2024-05-08 14:26:46 ET
Summary
- The growing possibility of Stagflation is one of many reasons the overall market appears overbought at this point.
- The economy faces issues on myriad fronts, including the impacts from interest rates remaining "higher for longer," increasing stress on the consumer and rising delinquency rates.
- The article below looks at 10 reasons the economy is likely to face increasing headwinds in the months ahead and why the market is overvalued at current trading levels.
My regular readers know I am quite bearish on the overall market at current trading levels for myriad reasons. Earlier this week, we took a deeper look at Stagflation, which seems to have an increasing chance of becoming the baseline economic scenario in the coming months and quarters. Today, we will offer up 10 somewhat eclectic reasons that the S&P 500 (SP500) represented by the SPDR® S&P 500 ETF Trust ( SPY ) looks significantly overbought....
SPY: Growing Signs The Market Is Overbought