Put the P/E ratio in timeout for now 🙈

Plus a charted review of the macro crosscurrents 🔀

Timeout.

📈 The stock market rallied last week, with the S&P 500 climbing 5.7% to close at 5,363.36. It’s now down 12.7% from its February 19 closing high of 6,144.15 and up 49.9% from its October 12, 2022 closing low of 3,577.03. For more on market moves, read: Investing in the stock market is an unpleasant process 📉

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The forward price-earnings (P/E) mu…