macro's xjo fair value: 4090-4271, page-4

"Essentially this is a systematic process to determine underlying value and something that may be updated on a regular basis."

Systematic process to determine underlying value?

I am a little confused macros with your above readings..
so going by your indicator its safe for me to go out and buy..yes?

BUT

As it is essentially a systematic process.. there is every chance that your indicator has not been updated due to future events..confused?

"One consideration is that with ongoing currency devaluation on a world-wide basis, fair value on a nominal basis could hold up or increase"

how about on a real basis?

is currency devaluation good?