Long ago, I was told how to use common sense to find out if a bull market is peaking. Yes beyond the PEs and PBVs. When the paanwala, rickshaw driver and the house maid, that is the low income group, start asking for stock tips to make money – you run with yours.
Now, I believe there is a new indicator in town.
A whole new set of people are willing to join in the great bull run. They want to sing in the chorus and have fun with the rising markets.