This Stock Market Warning Is Flashing Red for the 2nd Time in 145 Years. Here's What History Says Comes Next.

This has been anything but a boring year for the stock market. After falling sharply earlier in the year, at recent prices, the Dow Jones Industrial Average is up 15% from its March low, while the S&P 500 (SNPINDEX: ^GSPC) is up 22%, and the tech-heavy Nasdaq Composite is up a whopping 30%.

But as exciting as the rally has been, there's a figure that should make you pause: the Shiller CAPE ratio. The important valuation metric has recently reached more than 40 -- a level only seen once before in modern stock market history.

Here's what that means for investors.

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