Because of the Fed's ultra-soft policies and trillion-dollar injections into the economy, the U.S. stock market bubble continues to grow. According to According to Citi chief strategist Tobias Levkovich, the market is overbought and players are overly optimistic, expecting that this time situation will develop differently. The expert compares the market situation with 1999 - at that time traders had no choice but to take part in the rally, despite the obvious riskiness of doing so. The same situation and, despite all the enthusiasm, the Citi warns of the need for prudent caution. The financial injections into the economy by the authorities will not continue in perpetuity. In addition, the following are warning signs lower business earnings forecasts and the likelihood of a spike of inflation. The expert forecasts a fall of the index S & P 500, last which ended trading at another high last Wednesday, to 3,800 points by the by the end of the year.