I like to think in analogies and what I see is the market acting like a dying pin oak tree. When the pin oak begins to die it will spur new growth in the form of new limbs close to the base of the tree, closer to the roots where the water is more plentiful. This is called epicormic growth. To the untrained eye this looks healthy, however the tree has done this out of desperation and it is a sign of death. The markets could be in a "death phase" where extreme manipulation is needed to keep the whole thing "alive". For the untrained eye all looks well, good even, just like the new limbs on the dying pin oak. The tree can stay alive much longer in this state, just like the markets, however it is a sign, and it does mean death is coming sooner than later in my opinion.