Bullitt
04-30-2013, 07:04 PM
According to Morningstar the universe of stocks they cover is slightly overvalued at 1.04. To put this in perspective, they had a ratio of -.85 (undervalued) in June 2012.
Multpl (http://www.multpl.com/)has a current PE of 18.47 on the S&P, a bit above the median of 14.5. Keep in mind we never got much lower than 14 though at the 2009 nadir.
This guy (https://macromon.wordpress.com/2013/04/27/overbought-and-oversold-markets-april-26/) says US markets and bond markets are generally mid-overbought. Interesting how his charts show GLD still past the mid point of 40.
I don't see an advantage to either the bulls or bears at this juncture.
Multpl (http://www.multpl.com/)has a current PE of 18.47 on the S&P, a bit above the median of 14.5. Keep in mind we never got much lower than 14 though at the 2009 nadir.
This guy (https://macromon.wordpress.com/2013/04/27/overbought-and-oversold-markets-april-26/) says US markets and bond markets are generally mid-overbought. Interesting how his charts show GLD still past the mid point of 40.
I don't see an advantage to either the bulls or bears at this juncture.