Elliot Wave Still Sees Overvaluation In Stock Market

Here’s an interesting chart from Elliot Wave, suggesting that valuations STILL have more room to go on the downside before they get into the “zone” or a more “normal” range. I enclose normal in quotation marks, not only because that is how it’s referred to in the chart above, but also because there is no such thing as “normal” in the current environment that we’re living through.  It makes historical comparisons very difficult and not tremendously useful; however, still very interesting to look at.  It does provide decent perspective.

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