If you plug that in, the equity markets look overvalued today.

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Many equity markets currently look overvalued.

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Because of stock market strength and a higher 30-Year bond yield, equity valuations are less undervalued and more overvalued.

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Stocks are now more overvalued than undervalued and the technicals for the major equity averages are overbought on their weekly charts.

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The major equity averages are among those that are overvalued and overbought, except for the NASDAQ 100 Index, which has rising momentum on its weekly chart, as Apple ( AAPL) has weighed on this performance.

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Stocks continue to be more overvalued than undervalued, and the technicals for the major equity averages away from Dow Transports remain overbought on their weekly charts.

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There is no point in diversifying if the investment does not offer a genuinely different source of return (much of private equity falls into this category) or if the asset is already overvalued.

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