P/E for the market is about 17 and the average about 15, so the market is not cheap but not too expensive.
There are many value stocks. Two days ago, I bought 4: APPL, GILD, GM and GNW (or GWN; I sold it for 10% gain in 2 days). All have strong P/E.
Corrections are good esp. this one. It would let out some steam for a big one in 2016. I always want one more month so I can sell more stocks I own.
The writing style is fine. Who is going to pay for the editor? By the time it is done professionally, the data may be obsolete. It is an INVESTING site. Look elsewhere if you want to improve your English