Just because the current valuation backdrop isn't as extreme as 1999-2000, we are still in a market bubble, and valuations are even more stretched today than they were at the market peaks in 2007, 1990, and 1980."
Rosenberg ResearchSecond, the S&P 500 is outperforming the HYG/TLT Ratio.
AdvertisementRosenberg ResearchAnd third, even tech stocks, which have been overwhelmingly supporting the S&P 500, appear to be running out of gas, Rosenberg said.
The same goes for Paul Dietrich, the chief strategist at B. Riley Wealth, who says the S&P 500 could fall 49% when the current bubble pops.
The bull market has thrown egg onto their faces again and again: since the October 2022 lows, the S&P 500 is up a whopping 42%.
Persons:
—, David Rosenberg isn't, Merrill Lynch, Rosenberg, he's, manias, HYG, Michael Hartnett, Jeremy Grantham, Paul Dietrich, Riley Wealth, Dietrich, Grantham, Carol Schleif
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