DJIA HIGH P/E READY TO FALL OUT OF BROADENING TOP - SHORT IT

The Dow Jones Industrial Average DJIA is selling for a P/E of 19.3. This is quite high historically. Everyone is buying the hype of lower interest rates boosting stocks. Well, in 2000 and 2007 rates were falling with a falling stock market. Cutting rates is a sign somethings wrong. Anyway, the first rate cut scenario is factored in by now, I don't expect a boom after the cut. Rather it is a situation of buy the rumour, sell the fact. Look at Coke KO, a Dow Industrial. It's earnings and sales have gone nowhere and down over the last 5 years, yet, it's selling for an outrageous P/E of 36. The DJIA and S&P500 are hitting all time highs, a real danger in my opinion. I can see a correction coming, how severe I'm not sure. But, for those adventurous you could short sell the DJIA and S&P500 or SPY. I think a 10% fall is going to happen, possibly more. This will probably happen in sync with the decline in bitcoin and ether. Many assets are overvalued now, cutting rates to prop it all up is not going to work.

The RSI, ROC and stochastic are all measuring overbought. A sign of the decline to come.