How Cheap Are Those Stocks by P/E?
Bespoke has a great post that truly shows the rising P/E of stocks. It looks like the trend is very clearly up. They also put a red dot on graphs to show when the market topped in the fall. The fact that P/E's are rising when the market has declined means that these graphs truly don't show the degree to which earnings have declined.
Additionally, they didn't post consumer staples, in the 100s, or telecom because it is negative.
Bespoken had another single graph about six weeks ago on P/E as well. I'd love to see another on the market as a whole.
I keep talking margin squeeze and that rising P/E is the squeeze in action.