According to Jeremy Grantham, S&P 500 at 2300 will be the bubble territorial and we are not there yet.
So it is hard to say that it will correct just from this level given the Chinese central banks and other FED equivalent around the world are continuing pumping money into the market to prolong the unsustainable appetite for everything from raw material to iPhone in the global market. Just my personal view.
Also, the market overall is pretty cautious at the moment. It is priced high only because the unbelievable amount of cash that are floating around. That’s why you got both S&P 500 reaching new high and the bond market yield testing new low at the same time.
