There is no doubt in my mind that this bull market is getting very frothy as the media is hyping this bull market. The VIX has been at record lows which tells us how complacent investors really are. Experts are telling us that the VIX is irrelevant being this low, and in most part ignore its importance.
Of course they are ignoring HDGE as well
Any extreme bull market top has been the breeding grounds for a bear market yet to come and this time it will be no different. The problem is we never now exactly what day, month, or year any market turning will start, but most start when the majority least expect them to.
I moved my Minor degree "A" wave up a bit and now we have more of an even zigzag for the 5th wave in Intermediate degree. This keeps the big diagonal wave pattern in sequence, and it sure alternates in style with a small skinny "C" wave bullish phase we are still in. This is a pretty normal alternation, as the 5 wave sequences alternate in physical size.
In the big scope of things I believe we are heading up to a Cycle degree wave III, which would end one part of a Cycle degree run that started way back from a major low in 1932. Another major low with a Fibonacci 89 year cycle, could be closer to 2021 matching the bottom of solar cycle #24.
This chart is still far from the bottom as it can roll around the bottom for several years before SC #25 starts. There is usually a market crash just before any solar cycle bottom, which has not happened yet. It may not happen until the very end. If the majority of investors are bearish on stocks at that time, they will be ill prepared for a major bull market soon to follow. Running with the bulls eventually gives you nothing but pain and no gain, as it is mathematically impossible for us to make money running with the herd.