The best way to manage stock market risks, besides constantly evaluating the underlying facts supporting them, is to monitor the technical condition, which is robustly bullish.

US Equity indexes continued to make new highs, with exception of the Transports which are attempting a key bullish reversal after a recent price correction.

The markets appear to have hit the pause button as they await the outcome of today’s start of the FOMC’s 2-day meeting and this Sunday’s presidential election in France.

US stocks continued advancing despite the Fed’s having given several “last calls” in preparation to shut down this party. The Dow-30 Industrials, SP-500, and Russell-2000 made new record highs.

Today I will address the high P/E market valuations, which I believe may be misleading US stock investors into being Trump’s chumps.

Today, CNBC reported that the combined increase for the S&P 500 Large-caps, S&P 400 Mid-caps and S&P 600 Small-caps has been over $1 Trillion since the US 2016 presidential election. That’s not chump change gentle readers. That’s Trump change!