Today’s stock market is so overvalued that it won’t take much of a piece of straw to break the camel’s back — much less an economic or geopolitical shock from the Middle East. Compare the stock market’s valuation today with where it stood in October 1973,

Several headwinds threaten the U.S. stock market in the near term, but history says the S&P 500 is headed much higher in the long term.