Hussman: Look out below

|By:, SA News Editor

A "public service" from John Hussman who presents this long-term chart of the S&P 500 (SPY -0.3%) matched against occasions when the Investors Intelligence poll registered Bears at less than 18.5%, the Shiller P/E ratio stood above 19, and the S&P 500 was at a 5-year high: 1973, 1987, 2007, and today.

Index ETFs: SPY, QQQ, IVE, SH, DIA, SSO, SDS, PSQ, IVV, SPXU, UPRO, SPLV, VOO, QID, PRF, SPXS, SPXL, TQQQ, DOG, RSP, SQQQ, SKF, DXD, QLD, IWF, RWL, EPS, IWD, UDOW, SDOW, DDM, IVW, VV, SPYG, SCHX, IWB, RPG, SPHB, NY, SPYV, BXUB, RPV, VOOG, QQEW, QQQE, JKD, VONE, FEX, VOOV, TRND, EQL, ROLA, SFLA, FBG, BXUC, UKF, FTA, QQXT, ONEK, EEH, SPXH, TRSK, BXDB, UVG, EWRI, PXLC, VONG, VONV, FWDD, TNDQ, LGLV, ALTL, SJF, FIBG