Despite numerous bearish signals, the bull market continues to thrive. Our leading valuation measures indicate that current levels are more extreme than those during the 1929 and 2000 market peaks. This raises questions about the sustainability of the current market rally. Since the market peaked in January 2022, the equal-weighted S&P 500 has barely outperformed Treasury bills, with only 2.4% cumulative total returns. Meanwhile, small-cap stocks in the Russell 2000 have underperformed, lagging T-bills by more than 10.6%. Investors must weigh these indicators carefully as they assess potential risks and rewards in the coming months. With these signals flashing, many are wondering if this bull market truly has legs or if we are on the brink of a correction. Staying informed is essential as the landscape shifts, and making strategic investment decisions could be pivotal for portfolio growth.