Market is overvalued on just about every fundamental metric. The only reason to buy it are the technicals, which currently tell a more bullish story (watch Ciovacco on YouTube for endless bullish, technically based rhetoric) . Normally, that would get me more interested, but in this case, I think the best we can hope for is sideways to slightly up for the rest of the year....which means cash is more attractive with a 4+% yield. If the market had free will, it would sell off in order to force a Fed pause. Instead, it is being levitated by misguided Gov spending and bailouts, which will force the Fed to stay the course longer than almost anyone expected.