Market Valuation: Is The Market Still Overvalued?

Market valuation indicators suggest that the S&P 500 is overvalued by 116% to 207% based on June 2026 monthly data. The average of four valuation indicators stands at 155%, which is more than 3 standard deviations above its historical mean. These indicators are primarily used to frame long-term investment return expectations rather than to predict short-term market direction.