S&P 500

Via Investment Research Dynamics,

Please note, many will argue that the p/e ratio on the S&P 500 was higher in 1999 than it is now. However, there’s a number of problems with the comparison.

The S&P 500 could be creating this week, its 3rd bearish wick (reversal pattern) in the past 6-weeks. Bearish wicks in any asset always get our attention. When they take place just below an important Fibonacci Extension Level, they really get our attention! Let’s exam what is taking shape of late.

Authored by Lance Roberts via RealInvestmentAdvice.com,

There is a really big crisis coming.

Think about it this way.

After 8 years and a 230% stock market advance the pension funds of Dallas, Chicago, and Houston are in severe trouble. But it isn’t just these municipalities that are in trouble, but also most of the public and private pensions that still operate in the country today.

Today’s China-U.S. summit meeting is an event that could also have enormous implications - in both directions. As Bloomberg's Richard Breslow notes, one can't help but be intrigued by the fact that while everyone is looking at the S&P 500, this morning the Shanghai composite traded at its highest level of the year.