Goldman's bear market indicator is at a rare 73 percent, its...

• Goldman's bear market indicator is at a rare 73 percent, its highest level since the late 1960s and early 1970s.
• At such levels, the tool predicts a zero average return over the next 12 months and a "substantial" risk of drawdown.
• The indicator is "flashing red," wrote Goldman chief global equity strategist Peter Oppenheimer. "Historically, when the Indicator rises above 60 percent it is a good signal to investors to turn cautious."

reference: https://www.cnbc.com/2018/11/12/goldmans-bear-market-indicator-shows-zero-returns-over-next-year.html