Indicators are pointing to a major correction coming for stocks, market strategist Paul Dietrich says. The stock market looks "bizarrely" overvalued and indicators are pointing to a big correction on the way, according to Paul Dietrich, chief investment strategist of B. Riley Wealth. Speaking to Yahoo Finance, Dietrich pointed to a handful of indicators in the market, which are all flashing a collective warning sign for stocks. Red flags are arising in the price-to-earnings ratio of the S&P 500, and multiples mirror levels seen prior to the dot-com bubble crash.