--- title: The Higher Market Grind description: The Higher Market Grind --- - [ BLOG ](https://blog.ggaretirement.com/) - [ CLIENT LOGIN ](https://www.ggaretirement.com/client-login) [![gga-retirement-header-logo](https://blog.ggaretirement.com/hubfs/gga-retirement-header-logo.jpg) ](https://blog.ggaretirement.com/2017/05/16/the-higher-market-grind#) ** - [ FOR ADVISORS ](https://www.ggaretirement.com/for-advisors) - [ FOR EMPLOYERS ](https://www.ggaretirement.com/for-employers) - [ OUR TEAM ](https://www.ggaretirement.com/our-team) - [ 401K PEP ](https://www.ggaretirement.com/401k-pep) - [ CONTACT US ](https://www.ggaretirement.com/contact) - [ REQUEST CONSULTATION ](https://resources.ggaretirement.com/request-consultation) # Blog ## The Higher Market Grind Posted: May 16, 2017 10:23:07 AM Our last writing was on March 6th, titled Life’s Lessons. The reason is, there is not too much to do in the short term.  We intimated that pundits have become too bullish and that gave us pause. The markets sold off and then moved back up which means we need a catalyst to move markets higher or lower.  As of this writing, FactSet says the S&P price return is up 117 bps or about 1.17 percent since March 6. Also, according to FactSet, the S&P is trading 18.3 times 2017 and 16.4 times 2018 earnings. *Why is this important?* We believe the markets are slightly expensive given the current valuations. The combination of expected growth, higher interest rates and high valuations dictate that we should be patient. We caution on making new allocations to the equity markets at this junction. We do not believe a bear market sell off is imminent, but some bad news can certainly cause a retracement.  Considering all of these factors, we think it is prudent for investments to be added at a better market valuation. You can follow Granite Group Advisors on [LinkedIn](http://www.linkedin.com/company/granite-group-advisors?trk=cp_followed_name_granite-group-advisors) and learn more about our Wealth Management and Corporate Retirement Services on our [Website](http://www.granitegroupadvisors.com/). [![New call-to-action](https://no-cache.hubspot.com/cta/default/6431732/8084df1e-4fae-435d-9084-3e241986d324.png)](https://cta-redirect.hubspot.com/cta/redirect/6431732/8084df1e-4fae-435d-9084-3e241986d324) ### Posts by Tag - [401k (28)](https://blog.ggaretirement.com/tag/401k) - [Business (22)](https://blog.ggaretirement.com/tag/business) - [Retirement (15)](https://blog.ggaretirement.com/tag/retirement) - [Retirement Plans (12)](https://blog.ggaretirement.com/tag/retirement-plans) - [Covid-19 (10)](https://blog.ggaretirement.com/tag/covid-19) - [Online financial tool (3)](https://blog.ggaretirement.com/tag/online-financial-tool) - [Technology (3)](https://blog.ggaretirement.com/tag/technology) - [financial advisor (3)](https://blog.ggaretirement.com/tag/financial-advisor) - [Insider (2)](https://blog.ggaretirement.com/tag/insider) - [ERISA (1)](https://blog.ggaretirement.com/tag/erisa) - [Market Outlook (1)](https://blog.ggaretirement.com/tag/market-outlook) - [News Update (1)](https://blog.ggaretirement.com/tag/news-update) - [Nonprofits (1)](https://blog.ggaretirement.com/tag/nonprofits) - [Target Date Funds (1)](https://blog.ggaretirement.com/tag/target-date-funds) [See all](https://blog.ggaretirement.com/2017/05/16/the-higher-market-grind#) ## OUR CONTACTS **Address** 1 Landmark Square  Stamford, CT 06901 (Suite 426) **Telephone ** [(203) 210-7814](tel:203-210-7814) **Fax** [(203) 403-9481](tel:203-210-7814) **Email ** [info@granitegroupadvisors.com](mailto:mrosenthal@granitegroupadvisors.com) ## OUR COMMUNICATIONS Join Our Mailing List to See Our Blog Updates [RETIREMENT LOGIN](https://www.ggaretirement.com/client-login) [**](https://blog.ggaretirement.com/2017/05/16/the-higher-market-grind#) © 2026 by Granite Group Advisors. All rights reserved. - [Privacy Policy](https://www.ggaretirement.com/privacy-policy) - [Disclaimer](https://www.ggaretirement.com/disclaimerpolicy) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/usa-flag.png)](https://www.ggaretirement.com/) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/netherland-flag.png)](https://www.ggaretirement.com/copy-of-home-spanish) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/spain-flag.png)](https://www.ggaretirement.com/copy-of-home) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/china-flag.png)](https://www.ggaretirement.com/copy-of-home-portugese) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/brazil-flag.png)](https://www.ggaretirement.com/copy-of-home-french) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/france-flag.png)](https://www.ggaretirement.com/copy-of-home-russian)