Let's take a look at the 2 charts and we will know the answer.
Warren Buffett Index
This index is calculated by using the Total Market Capitalization and divided by the US GDP.
How do you interpret the chart?
The WB index is at 182.2 now. An index that is above 120 is an overvaluation and an index that is below 80 is an undervaluation. Therefore, anything between 80 to 120 is neutral (normal). The US stock market is extremely overvalued now as indicated by the WB index.
Shiller PE ratio chart
The Shiller PE Ratio is the 2nd highest on record now as shown on the chart. How much more do you think the US stock market can move up higher?