You can’t predict the movements of the market. Yes, stock prices are high and will go down some day, but no one can say when.
However, the end of the taper in October, if that does happen, might provide some impetus. You would think interest rates might start to rise a little.
Interest rates rising, now that the US and Japan have borrowed against the future beyond rationality, will be a VERY bad thing for everyone. Interest rates have been kept artificially low for several years. If they rise even just 2 percentage points, Japan starts failing fast... and even we are not big enough to rescue them, even if we weren't already in debt up to our eyeballs. China might try, in a non-military take-over attempt, but they also can't do it... and Japan likely would rather collapse than be owned by China.
What confuses me is how some of the DOW 30 have managed to rake in record profits in such a bad economy?