Altayb/E+ via Getty ImagesIntroduction Allow me to start this article by showing you a chart I have used quite a few times in the past few months. As we can see below, the market has a quite lofty valuation. The S&P 500 traded at 21x earnings going into this month. That's 1.3x its long-term standard deviation. In fact, it's the third-most expensive market since the early 1990s. Only the Dotcom and post-pandemic periods were more expensive. JPMorganThis does not mean that stocks are due for a massive sel ...