Subject: Re: Market high
This calls to mind an old article by a guy called ivanhoff.
The tidbits:

Prices don’t change when fundamentals change. Prices change when expectations and perceptions change and they could change for various reasons. From a trend follower’s perspective, the main indicator that signals changes in expectations is price.

Aren’t you glad you are a trend follower? Leaving aside the potential performance advantages of trend following for a moment, it is just less drama. Case in point, as a trend follower you can avoid getting caught up in the endless debate about whether or not the market is overvalued.