One thing I noticed is that every 3 or 4 years (from 1900 to about 1980) in regards to this chart:
http://www.stockcharts.com/charts/hi.../djia1900.html was the market would rise for a 3 to 4 year period, then go back to almost the level it was 3 or 4 years prior.
IE: 1904 to 1908. Just before 1904 it was 30, then just before 1908 it was at 38.
The 40s to 60s was pretty much all up, not many downturns.
60s to 80s you see the rise and fail pattern every few years.
Now is this just mainly people who had bought into the market at the low, cashing out their stocks and taking the money?
So one could expect in about 3 to 5 years another market downturn just due to people who had bought in the market 3 to 5 years go, now selling?