Why Market is not in a bubble

SPY
SPX
MULTPL/SHILLER_PE_RATIO_MONTH

Forget Fear and Make Money

* My English is not good enough, so I make it short and put everything you need to know on the chart.

1- What is Shiller P/E? (Wikipedia))
The cyclically adjusted price-to-earnings ratio, commonly known as CAPE, Shiller P/E, or P/E 10 ratio, is a valuation measure usually applied to the US S&P 500 equity market. It is defined as price divided by the average of ten years of earnings (moving average), adjusted for inflation. As such, it is principally used to assess likely future returns from equities over timescales of 10 to 20 years, with higher than average CAPE values implying lower than average long-term annual average returns.
S&P 500 shiller P/E ratio compared to trailing 12 months P/E ratio
The ratio is used to gauge whether a stock is undervalued or overvalued by comparing its current market price to its inflation adjusted historical earnings record.
It is a variant of the more popular price to earning ratio and is calculated by dividing the current price of a stock by its average inflation adjusted earning over the last 10 years.
Using average earnings over the last decade helps to smooth out the impact of business cycles and other events and gives a better picture of a company's sustainable earning power.
The ratio was invented by American economist Robert Shiller.
It is not intended as an indicator of impending market crashes, although high CAPE values have been associated with such events.
* Many institutional investors use it as crash signal or buy signal.

2- What is Market Bubble?
Two conditions that define stock market bubbles are fast rising valuations and retail investor fervor, based on chart we don't have the first, and the second is just starting. (There is an article regarding this topic in business insider)

If you look at the chart and compare the Bubble crashes, it's so obvious why we are not in bubble, maybe in next 4 years we be in bubble but at the moment we are so lucky for this opportunity. The Covid has a solution, it means Trillion dollars from Bonds will be invest in market, the businesses will start making money, companies will grow by their own money and investments not by help of FED. it's the reason I'm bullish for a long time, we will see corrections, but I don't expect any crash soon. good luck and enjoy the strongest bullish market in history of wall-street.