Last week, the market came down and retested the low and support level of around 1813 on the S&P 500, and then bounced strongly from that level. At that level on the S&P 500, it is around 15.5x earnings, which is not a compelling level, but one that the market appears to be comfortable with at this point.

Please click the link below to continue reading:
Market in a Minute 2016-2-17