I have a macro-model that I use to gauge where the market is in relation to where is should be. One of the first steps in the process of understanding where we “should” be is to look at a long-term chart of the S&P 500. I was a bit flabbergasted when I recently took a peek at this chart. The chart is pictured below, tell me if you feel the same way I did.
Read the full report: Market Outlook 11/24/2014