April | 2021 | iMarketSignals

The average of S&P 500 for March 2021 is 3914. This is 1484 point higher than the long-term trend value of 2430.
The current percentage difference of S&P 500 level relative to the current long-term trend level is 61%, a value never exceeded in the recent past since January 2002.
The Shiller Cyclically Adjusted Price to Earnings Ratio (CAPE) is at a level of 35.0. That is 41% higher than its 35-year moving average (MA35), currently at 24.9.
The CAPE-MA35 ratio is 1.41, forecasting a 10-year annualized real return of about 4.6%. Should the CAPE-MA35 ratio increase further, then 10-year forward returns will be even lower.