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Indicators are pointing to a major correction coming for stocks, market strategist Paul Dietrich says.
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The B. Riley Wealth chief investment strategist says the market is “bizarrely overvalued.”
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The “smart money,” according to Dietrich is moving money into cash.
The stock market looks “bizarrely” overvalued and indicators are pointing to a big correction on the way, according to Paul Dietrich, chief investment strategist of B. Riley Wealth.
Speaking to Yahoo Finance, Dietrich pointed to a handful of indicators in the market, which are all flashing a collective warning sign for stocks.
Red flags are arising in the price-to-earnings ratio of the S&P 500, and multiples mirror levels seen prior to the dot-com bubble crash.
“Every single indicator seems to tell us…
