By what metric? The P/E ration for the S&P 500 is not historically very high right now.
https://www.advisorperspectives.com/dshort/updates/2022/07/0...
https://www.advisorperspectives.com/dshort/updates/2022/07/0...
https://www.advisorperspectives.com/dshort/updates/2022/07/0...