Actually, we've talked (posted) quite a bit about the valuation of the market based on dividends, earnings, economic growth, etc. I don't know too many who think that this market is reasonably priced (unless you're using the fed model and does anyone really do that?) and if earnings don't pick up, it'll be just that much more expensive.
stockcharts.com[l,a]maclyyay[d19900101,20021231][pc20!c50!c200!a950!a350!a450!f][vc60][iut!La12,26,9!Ll14!Lah12,26,9!Lah24,52,18!Lb14!Lp14,3,3]&pref=G
I don't know about 300 but 450 is a big support area and the monthly is still holding on to the 200 EMA so who the heck knows? |
