Here is a P/E comparison indicating stocks are expensive:
http://www.zerohedge.com/news/2016-06-08/goldman-turns-downright-gloomy-warns-market-despair-coming-prepare-major-drawdown
After a very convincing analysis by Goldman on why equities are headed lower, ZeroHedge says this:
“All of which is great… then again we can’t help but be concerned that the last time Goldman warned about a big drop in the market a month ago, precisely the opposite happened. Will Goldman finally get this one right, or did the firm just say the magic words for the next leg higher in stocks?”
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