According to Bank of America, 60% of bearish signals in the stock market have been triggered, indicating a potential peak when this figure reaches 70%. The S&P 500 CAPE ratio has climbed to its second-highest level in history, just behind the Dot-Com Bubble, while the market cap of U.S. stocks relative to the M2 money supply has reached 289%, the highest since the 2000 Dot-Com Bubble. Furthermore, Goldman Sachs estimates that the S&P 500 will yield only 3% annually over the next decade, adjusted for inflation, making it challenging for investors to earn returns. Current valuations suggest annual returns of 0-1% for the S&P 500, although average stocks may see returns of 5-6% during this period. The S&P 500 has delivered a 23% return in 2024 and 24% in 2023, but a continuation of such performance is deemed unlikely in 2025.