I'd probably look at the S&P Price/Earnings Ratio. You can't just go by price because what if the US economy really is growing faster or slower? The stock marke

I'd probably look at the S&P Price/Earnings Ratio. You can't just go by price because what if the US economy really is growing faster or slower? The stock market should reflect that, and it shouldn't be growing at some constant rate. P/E ratios are a bit high compared to average, but not crazily so.