@ RadxI will not try to argue every point, as we could swamp...

@ Radx

I will not try to argue every point, as we could swamp this forum with words, charts, stats and it would be quite boring for others that regularly participate on this forum.

Just trying to keep it as brief as is possible.

You say how does point 2 apply to you?

The only thing you found that could contribute to a rally in equities was the somewhat customary Santa Rally.

Then on corporate profits being in decline, You say that the next quarterly report will prove you correct. Come on; that argument would be a fail in debating.

Jumping to your final point, regarding what do I have to back up my claim. Are you sure you understand what I said? I don't have any strong evidence of a rally, only saying that the market might be too pessimistic right now. Have you read the " Efficient Market Hypothesis"? And then have you read the evidence that the EMH is almost certainly inappropriate to describe the stock markets? 

I also hold that the EMH is wrong for stock markets so that later when all the information is available to all participants, prices revert to some other level. I say that the true level is probably above where it is today.