WSJ publishes forward PE of the major indexes

on a weekly basis.

The current PE ratio is not for recessionary economy, but for expansionary economy. 

Even for an expansionary economy, the ratio is too high.

It means the market has not yet priced in a recessionary economy. 

On the earning calls, what would you expect CEOs to guide investors for the next 1 or 2 quarters? 

After serioulsy considering those factors, you probably would come up with a better informed decision about bottom fishing or not, just for now.