To get things moving, from a long term investor's perspective, and using the S&P 500 Index as the market proxy I rate it a hold based upon valuation. I am finding that stocks are selling on a trailing twelve month reported earnings at about 22.3 and on forward estimates at 18.4. Notice the spread between reported and estimates, it is better than twenty percent. I am thinking, forward estimates are overly optimistic especially with the FOMC broadcasting a rate increase and stocks are currently meeting a strong dollar headwind.
I wonder what you might be thinking?
A trailing comment (10/31). It seems, from reading the comments, most are of the thought that the market is currently a hold; however, it seems one can find value if they look. Also, there is good reading to be found in bee's below comment as how one might wish to position going forward over the next couple of years. With this, just follow the link in her post to read Dr. Madell's thoughts on positioning which are contained in the most recent edition of his Mutual Fund Research Newsletter.
Thanks to all who made comment.