Since the SP500 valuation is in the top 1% of historical levels, it seems there is a lot of downside potential and less and less upside potential. It is a time to hedge those valuations if nothing else.
TSP Charts
TSP Charts: Quick Look 18 May 2025
I’m not sure the market has discounted much of anything yet. It is still operating on the assumption the market always bounces back. Which is really a bet on serial interventions to keep the free market from price discovery.
TSP Charts: Quick Look 13 May 2025
Has anything really changed?