In a recent note, Piper Sandler chief investment strategist Michael Kantrowitz responded "So what?" to other strategists' skepticism and calls for bearishness as S&P 500 (^GSPC) valuations climb higher and higher.

Yahoo Finance anchor Julie Hyman joins Asking for a Trend to break down the chart of the day, examining Piper Sandler's own P/E ratio comparisons on the S&P's fair-value valuations.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Luke Carberry Mogan.