Markets crash all the time...YET S&P 500 made another new high yesterday

"Markets crash all the time. You should, at minimum, expect stocks to fall at least 10% once a year, 20% once every few years, 30% or more once ortwice a decade, and 50% or more once or twice during your lifetime. Those who don't understand this will eventually learn it the hard way." - MorganHousel (from Barry Ritholtz)

The S&P 500 made another new high yesterday. According to Howard Silverblatt, there have been 565 new closing highs since 1977. Of those, the index went on to post another new closing high the next day 25.7% of the time and then to produce a third consecutive high 56.3% of the time. The TSX is trading at the highest level since 2008.

http://www.bnn.ca/Blogs/2014/04/03/Staying-safe-as-markets-surge.aspx