Trading & Investing in the US Stock Market

[khunjake]

As a retired professional, I have in tandem spent the past 20 years trading and investing in the US stock market. As my interest in this has increased dramatically over the past several years, I figured that I would open up a new thread and welcome other members insights and outlook. 
 

Current MarketView as of 22 February 2024: After a blistering rally off of the October 2023 lows, stocks in general appear to be quite over extended and unusually overvalued based on next years EPS. Usually when the $SPX has rallied over 20% from its last swing lows, a correction in the 10% range shortly ensues.
 

In addition, the level of market cap concentration of the Mag7 stocks compared to the rest of the market is at .com 2000 levels which is very concerning. With massive eyes on NVDA these last several weeks, in anticipation of a blowout earnings report, the news will likely trigger a climax here shortly. (Buy the rumor, sell the news event.)
 

“Topping is a process while bottoming is an event.” I am 100% in cash presently and looking to open up strategic short positions on strength in anticipation of a move down to 4400-4500 in the $SPX by late-May / early-June timeframe. 

[Mike Lister]

There is already a thread running on this subject, perhaps you will join that one rather than duplicating the debate.