SP-500 over valued by over 50% based on charts

Looking at the long term charts from 1970 to today one can clearly see we are in a declining market. The SP-500 could decline to 1147 and we would be still in a long term climbing trend. I have been able to draw 3 points on my chart where the market came back to touch fair value, as I call it and it can come back to touch this imaginary line again. To me it is only a matter of time but it could happen as early as this year. Also note the break in the support line from 2008 to now. Looks like it is time to be care full. Good time to look at buying long term puts to protect any gains made on the market since 2008

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