What absolute cr*p mate! I was around in 87 in the markets .. its was a crash waiting to happen after years of irrational exuberance and a rocketing market. have another look at your chart .. what has the DOW done since 2001 ..that's 4 years and its been going sideways. No irrational exuberance there mate. I reckon we would have to see 1-2 years of a surging DOW to well beyond 12,000 to be anything like as overbought as 87.
Yes a major currency revaluation on the back of China's emerging dominance and the US deficit could bring the DOW to the point of a major correction ... but not the fact that it may go beyond 11,000 next week!!
H
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