Why Stocks Won’t Sell-Off Anytime Soon

Based on current earnings estimates by FactSet, the forward 12-month P/E multiple for the S&P 500 is 16.9. At the height of the 1987-2000 bull market, the S&P 500 traded at 26 times forward earnings estimates. And even when the subsequent bull market began in 2002, the S&P 500 was still trading at 22 times forward estimates.