Goldman Top Tech Trader: "Most Investors Acknowledge Things Feel Stretched... Nasdaq At 28 P/E"

We excerpt from a note (available here to pro subs) from Goldman's head TMT specialist, Peter Callahan, who cuts right to the chase: "Bull market."

As Callahan writes, the Nasdaq is now up 4 days in a row, registering new ATHs (again) amidst a relentless underlying bid across markets (the NDX has had only three >1% daily declines in the last 2+ months) with the core tenets of the recent rally still intact: