FYI: Eight years into the current bull market, stocks look somewhat expensive now, based on “fundamental” considerations such as price to earnings ratios, interest rates, and weak economic growth.
But with apologies to the late Rod Serling, stocks also exist in a dimension beyond the bounds of P/E ratios and discount rates. And it’s one where “technical considerations” of supply and demand can influence whether stocks, or any asset for that matter, move up or down.
Regards,
Ted
http://www.barrons.com/articles/the-force-that-can-keep-the-bull-market-going-1500329697#printMode
