FYI: The S&P 500's trailing 12-month P/E ratio has ticked up to 19.62 recently, which is close to its highest level of the past year. For valuations to stop expanding on any breakout higher for the S&P, we'll need to see earnings (the "E" in P/E) keep up with price. That's going to be a tough ask for corporate America this quarter, so we may be heading into 2020 with valuations at more concerning levels.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/sp-500-sector-valuations
