On 4/15/2017, P/E is 26 and the average is 15. P/E is more expensive by =(26-15)/15 = 72%.
course it could last a long time as no one can predict exactly but this
is my argument. Comparing to 1999-2000, some stocks had P/Es over 40
and it lasted for a while.
I concluded that the market is financially
unsound but technically sound. There are many other factors I
considered too such as the record debt, interest hike...
My blog is: