The S&P 400 Industrials’ price-to-book ratio has climbed to an all-time high,

 

We’ve reached a new extreme in market valuation!

 

This isn’t simply a story about inflation. If higher prices were driven by inflation alone, stock valuations would be far lower than they are today.

 

What’s pushing prices higher is something else: investors’ willingness to pay far above historic benchmarks of value.

 

 

 

The S&P 400 Industrials’ price-to-book ratio has climbed to an all-time high, while the S&P 500’s dividend yield has fallen to just 1.16% - among the lowest readings ever recorded. These two conditions have rarely appeared together, and when they have, they’ve tended to mark pivotal moments in market history.

 

Valuation extremes don’t predict exact turning points. But they do provide critical context about where markets stand within longer-term cycles - information most investors never see.

 

To help investors gain that kind of perspective, Elliott Wave International is offering access to its flagship forecasting services for just $11 for a limited time.

 

For those who value clarity over crowd thinking, this is an opportunity to see how professional analysts are interpreting today’s historic conditions.

 

Get instant access for just $11! >>