S & P Earnings Tank!

From Chart of the Day:

Quote of the Day: "What experience and history teach is this--that people and governments never have learned anything from history, or acted on principles deduced from it." - Georg Hegel

Commentary: A little arithmetic using the S & P Earnings at 15:1 means the current price level for the index should be 120 instead of 900!

Should earnings recover to the $30 mark, the index should be around 450, half of the current level!

Maybe it would be a good time to take some profits and exit the market to see if the green shoots are really sprouting or turning brown and crunchy?