When everyone is waiting for correction, it never happens. There is too much money sitting on sidelines waiting for correction. I do not believe you can see more than 10% correction in stock market in near future unless something drastic happens.
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Been in the markets since a teenager and trust me when all the talking heads are saying it can't happen because "insert any BS they are spouting" that is exactly when it happens.
Plus there is more political and social tensions now then any point in recent history. There are landmines all over the place and anyone of them can set off a chain of events that will trigger a market crash.
Biggest problem is that if something happens the Central Banks won't have a solution. Until the current QE has been undone (rates normalized and balance sheets of central banks brought back down) they have no bullets left in their chamber to fight off any sort of financial collapse or economic downturn (which would then cause a collapse as P/E's are at insane levels assuming lots of growth).
Add in the massive debt loads of the governments of the world due to the last downturn and the increasing tax burdens the people must face to cover all this spending and corporate bailouts...yes shit will hit the fan.
Pull up a 5-year chart of the S&P and look at what happened mid 2015 to early 2016. That is what corrections look like these days.