How is everything navigating the current stock market?

Hi everyone!

I’m in my late 20s and want to spend more time investing and learning about personal finance, so I can (hopefully) grow my savings!

To me, everything in the market feels inflated or a little overpriced and I find that I'm having a hard time convincing myself to invest in the market. I currently have 40% cash and while it doesn't feel right to keep so much out of the market, I feel like if I dump it all in now it'll have a lot of downside.

I know I can't time the market so I’m curious to hear what everyone else is doing - as well as the rationale behind it. DCAing the SPY or keeping cash in the sidelines?

Appreciate any insights and thanks in advance for your time!