I keep seeing negative sentiment time and time again, because the index doesn't fit people's worldview. Yes the rich are having a party but you have to understand what's in the index. You can't short good valuable companies and all those companies have a bright future ahead of them, especially in this environment. I keep seeing article after article to sell, here too with people wanting to be Bill Ackman. The rich have a ton of money in Bonds (100trillion), they have 21 trillion in cash, and the stock market is at 35 trillion with no where else to place your cash. It is better to down cost average then trying to time the market on speculative short term downtrends. The only thing that matters is the list of most valuable companies and I do think Apple deserves to be on top of that list right now. You can scream overvalued all you want but it is overvalued for a reason. There is no bubble to burst right now. If spy was at 1000, I would be screaming sell right now but it is not there yet.