Its been a long haul since 2009, but 2020 was only 5 years ago, and 2015 was 5 years before that. When PE ratios are high, there is not much room in general to grow price without leaps in earnings. Historically, one chart read that Cap PE correlates well to market price reversion to the mean that begins when it goes too high. Looking at this, with Cap PE at 37 might indicate a breather is due for the market until this metric is in the more average range of 16 to 17, median//average. Historically we see periods like the lost decade, which I still see as very similar to the run up we have had this time. I have been advised well to keep to short term t-bills, fun times ahead. Optimistic for a 2025 year end 5400. I might get greedy if we see sub 5000 soon.