Markets have gone up too much, too soon, too fast

Accordingly with Bloomberg Nouriel Roubini said:

I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped. That might be in the fourth quarter or the first quarter of next year.

In the short run we need monetary and fiscal stimulus to avoid another tipping point and to avoid deflation, but now this easy money has already started to create asset bubbles in equities, commodities, credit and emerging markets

S&P 5000 (from Oct08 to date)

Dow Jones (from Oct08 to date)