LOL, This chart illustrates that FA is worthless!!!!!

I am sorry that I have badmouthed FA (I know you >90% DQers believe FA)!!  However as a scientist  I only believe in data.  
When I look at this data all I see is how bad PE analysis have been in assessing the market.  

1.  The correlation between PE (fwd.) and SPX price has been very poor!   
2.  According to the data on this chart:  PE (fwd.) @ 13.9X is lower than that of 1997 & 2002 and SPX should doube in 3-4 years.