Regular update on 10 week moving average of 18x forward earnings according to Thomson Reuters plotted with SPX price. Healthy that the slope of the P/E is increasing, but you can see SPX bumped up against this valuation a few times and professional sellers have stepped in each occurrence.
Citigroup Economic Surprise Index from Yardeni still looks terrible.
3x2 = 6
-5
Total score +1 on scale of -15 to +15
Markets should be about sideways. I have been saying this for several weeks.