Why investors should not be chasing the current rally

Recent policy announcements have caused gyrations on world bond and equity markets, as ECB considers more monetary policy stimulation; Chinese administration moved to support its financial system with lower interest rate settings; the US Federal Reserve continues to doing nothing; and the Japanese Central bank continues its asset purchasing policy as if it has no tomorrow.... Noteworthy was another rally in European junk government bonds, a sustained recovery in the German Dax index and pre-unloved Aussie stocks suddenly gaining favour..! Is this the start of a sustained equity market?? We think not! (VIEW LINK)