S&P 500 and Combination of Forward PE, VIX, Bullish Sentiment

The Euphoriameter, a composite of forward P/E, the VIX, and bullish sentiment, remains deep in euphoria territory. When the crowd is this bullish, the risk is today’s bulls turning into tomorrow’s sellers on the next bad headline.

Image: Topdown Charts

S&P 500 and Combination of Forward PE, VIX, Bullish Sentiment