Data, Valuation or Trends: Which Should You Bet On?

The forward P/E for the S&P 500, based on forward 12-month earnings estimates from Bloomberg, is back at over a decade high, at 18.3x. This has been a short-term stall level for the indices over the past several weeks. Meanwhile, the data has turned a bit more cautionary and may be suggesting a pause of the recent rally.

Still, with one exception, the near-term uptrends remain intact. All of the indices closed higher Thursday with positive internals on the NYSE and Nasdaq. NYSE volumes were flat from the prior session while Nasdaq volume dipped. Several new closing highs were achieved Thursday, including the S&P 500 (see below), Dow Transports, S&P MidCap 400, Russell 2000 and Value Line Arithmetic Index....184 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.