So when the market goes up doesn't make me particularly bullish when the valuations are out of sync.
Sell off will be like an AvalancheAs the market goes down it will trigger selling and then it will be an avalanche.
You don't know what the catalyst will be. But nobody knows the reason why the market peaked out in March 2000, nobody knows why the Japanese market peaked out in December 1989 and so forth. We just don't know but something usually pushes markets down when they are very overbought and when sentiment is very bullish.