Continued monetary stimulus from the Fed, including $60 billion per
month in balance sheet expansion beginning in October, along with
positive investor psychology have continued to propel equity markets
higher. Currently U.S. equities (particularly large-cap growth equities
such as the S&P 500 index) remain overvalued, as the S&P 500’s
price-to-sales ratio nears an all-time high…. Continue reading here.