Despite sharp rebound, chart watcher Louise Yamada warns stocks aren't out of the woods

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Technician Louise Yamada says it's premature to determine whether the market downturn is securely in the past.

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S&P500 P/E is 22...forward P/E is approaching 30. Europe and China have ground to a halt. US housing market is down 10-20% and stocks are 20% higher in 2 months because the FOMC choose to use BS dovish rhetoric. This market is on the cusp of a collapse.

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