S&P 500 and earnings
The single most important factor in equity market valuation -earnings data- may suggest continued fundamental strength. For investors questioning if the bull market can continue...
...or the next several years, the underlying trend in earnings growth could suggest >> the answer is yes. In the chart above, the relationship between the historical S&P prices and the reported TTM earnings are plotted.
The bars in purple reflect earnings estimates, using analysts' projections through 2019 and then applying a 2% quarterly growth rate, approx. 8% annual earnings growth, in 2020...