NEW YORK ( TheStreet) -- The major equity averages surged to new highs Thursday as traders further inflate the QE-induced bubbles in the stock market. The new all-time highs are 15,650.69 Dow industrials, 1707.85 S&P 500, 6686.86 Dow transports and 1060.96 Russell 2000. The Nasdaq traded to a new multi-year high at 3678.50 vs. my new monthly pivot at 3663.The ValuEngine valuation warning intensified with 77.1% of all stocks overvalued and with 46.3% overvalued by 20% or more. 15 of 16 sectors are overvalued, 14 by double-digit percentages, eight by more than 20%.
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