Previous 5 years were the "public participation" phase. This is the "redistribution" phase. Guess what usually comes next...

Yes. I think some people structure their lives, businesses, and even non-profit orgs such that normal market fluctuations are a huge problem for them. The media focus on them when a correction occurs.

Indeed. Many are afraid to enter the market and get burned. Perhaps rightly so. "Once bitten twice shy."
Since so few are in the market the market seems a poor metric relative to the overall economy. Its increase is however a convenient talking point for our President... Just like the decreasing price of gas which he had nothing to do with, but takes credit...

Some of the numbers being reported have been disappointing. I was surprised when holiday retail sales were almost 1% below last year. The market doesn't seem to be a reflection of reality right now.

My concern is the length of time since the last correction. At some point there has to be a pullback and it just seems logical the longer we go without one the worse it will be.

The stock market is a gamble. Over the long haul it generally pays. Timing is everything. History, while not an absolute indicator, should at least be considered. It certainly has been a roller-coaster ride of late.

This article rests on the idea that volatility tends to precede and/or coincide with falling markets. I believe this is false. It feels true because we notice/remember volatility during bear markets but not during bull markets.