All the fundamentals like an expanding economy, job growth, rising dollar and record stock prices are all lagging indicators which after 5 years the majority of experts are starting to notice now.
When the majority repeat this fundamental good news it becomes irrelevant very quickly as prices get adjusted even quicker. Any fundamental news you may read about or you may have heard mention more than three times, then this news is irrelevant already. We are in an electronic age where news travels around the world by the time the crowd does the "wave" in a colosseum.
It is always the herd of investors that move the slowest, except when fear strikes.
It was the price rise that changed fundamentals not the fundamentals changing the price. We could be at a "D" wave top or just another big correction is going to happen as even this impending correction could be just another expanded pattern as well.
It is always a challenge as we can be early but hopefully we can catch any bigger bear trap before we get caught in it.
The SP500 did cross with a 3 wave pattern so far and it would have to drop much further to confirm this 3 wave move. Three wave moves to new record highs or lows are either part of a diagonal or part of a triangle. Any diagonal usually signals an end to a trend and they can get very volatile when they do it. The VIX should reflect this by going up as the SP500 declines.