Jesse Felder (Jul 30, 2016 @ Zero Hedge) - Over the past half-century, we have never seen a decline in earnings of this magnitude without at least a 20% fall in stock prices, a hurdle many use to define a bear market. In other words, buying the new highs in the S&P 500 today means you believe “this time is different.” It could turn out that way but history shows that sort of thinking to be very dangerous to your financial well-being.
 |
| On July 29 CNN's Fear & Greed Index indicated "Extreme Greed" Source: CNN Fear & Greed Index |
 |
| Citigroup's Panic/Euphoria Model on August 01, 2016 = Most 'euphoric' since August 2015. Source: Citigroup Panic/Euphoria Model |