Is the US market overvalued ? Absolutely not, if we assume the sky will not fall.
The SP500 average PE is around 17 which is around 15% more than its decades average. 2 weeks back the PE was around 19. The earnings yield around 6% , the dividends yield around 2%. Supposing that earnings will not get hit more than anticipated , this is not an overvalued market!
At the same time you can invest & risk your money with less than 1% for the next 10 years , betting in an endless low inflation regime! Not the best choice if normal comes in vogue again! Does this mean an opportunity for LONG investing ? If you are a value investor & do not care about timing, possibly yes because the value is there in a cheaper price. If you are a growth investor, a trader or a speculator the next weeks will probably be tougher than expected.
Good to remember than most of the time sitting & watching makes more money than trading and the best trades are those you didn’t take !