The S&P 500 has soared to an unprecedented 5000, setting a new record high.

The unprecedented surge has prompted discussions about whether the market is entering an overvalued territory.

Some experts argue that the current valuation might be unsustainable, raising concerns about a potential market correction.

Peter Tuz, president of Chase Investment Counsel, has been looking this reporting season for companies with solid earnings prospects that are not expensive.

The S&P 500’s “valuation at roughly 20 times … is somewhat excessive and is based on either earnings growth or falling rates that we might not see until the latter parts of this year,” he said.