Of course I am loving the projection here by the Stock Trader's Almanac since it goes right along with the kind of trading that we have seen historically in the past. Periods of huge stock market gains based upon little more than pure speculation in the end are always met by huge selling in the end. Then you get years of volatility followed by complete apathy.
Once we reach complete apathy and the S&P 500 trades near historical lows on its P/E ratio then we will be free again to rally back to nosebleed highs while fearless investors buy stocks thinking they will never fall again.
But first we have to trade down to that P/E of 7 again for the S&P 500:
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