Nov
7
Ten days since an ATH
November 7, 2025 |
10 days since all-time high. very bullish.
Steve Ellison comments on CAPE:
[Click chart for original post on X.]
6637-6660 is an important level for the ES December contract; not breaching this level (yet) in today's selloff is short-term bullish in my opinion, but the second highest valuation in history means the longer-term risk is high.
And I'm not sure exactly what the "rolling historical average" is, but by my calculation, the 30-year average CAPE is 28, which might make 40 somewhat less overvalued.
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