141 companies in the S&P still have a P/E above 30x

Source: https://finviz.com/screener.ashx?v=111&f=idx_sp500&o=-pe

12 companies in the S&P still have a P/E above 100x

28 companies in the S&P still have a P/E above 75x

52 companies in the S&P still have a P/E above 50x

141 companies in the S&P still have a P/E above 30x

203 companies in the S&P still have a P/E above 25x

269 companies in the S&P still have a P/E above 20x

This might say extreme fear https://www.cnn.com/markets/fear-and-greed and the VIX might be at 28 but uh…

It's like the market is failing to believe the Fed will actually keep raising rates 0.5bps and is waiting until after they actually do it to price it in (the opposite of the typical buy the rumor, sell the news we are used to)

I don't know if it's a sector by sector thing but it seems many stocks have yet to have “E” side of their P/E “updated” for current economic conditions.

The concept of “capitulation” might be a pipedream that may never happen (no rule says it really “needs” to), but…

I don't personally see reason to buy stocks until we see lower levels. Has the market priced in the Fed actually rolling off $90b a month? Has real estate even begun to correct? Will it?