SPDR S&P 500 (SPY)

[Wishthiswasmyjob]

You could definitely say we're
a bit ahead of the actual economy....
When we make some comparisons, the SPY was at
300 when Real Sales were where they are now -
I always would rather look at the top line, instead of the
bottom line earnings, as we know the many ways companies can
"cook a pretty picture", quarter by quarter.

https://www.multpl.com/s-p-500-real-sales/table/by-quarter

and back onto valuations....

https://www.multpl.com/shiller-pe

https://www.multpl.com/s-p-500-price-to-book

It all comes back to money chasing ROI and how
that "quest" has gotten completely beyond irrational...
It's just insanity.