I agree it is a bear market rally - until such time as it proves the bottom is in place and we have re-entered a new bull market. Getting over 9025ish is the first major barrier and to some the completion of the bottoming process. To others (e.g. Richard Russell) it must make it above a 50% retracement from the high to the low - that figure is 9500ish (can't recall the exact number). Geffa where did you get your 9300 from if I can ask?
I wouldn't get too bogged down in historical P.E's. as stock pricing is about future earnings results. Currently they seem to be on the up.
