Shiller PE ratio update………..
MK note: Alcoa today announced weak earnings that pushed its stock down 10% and contributed to the overall decline. The DJIA is down about 163 points as this is posted. . . . . .As it is price earnings ratio are at levels that inspired major sell-offs in the past. In the area of 25/30 we have encountered topping action in the past. We are at 26.58 today. Here’s the latest Shiller PE ratio chart with important annotations:
