Sean, what would you say to folks who explain away the overvalued market by saying we've never had a President like Trump? They're assuming his business savvy is creating never before seen positive conditions which are driving up the market.
With that said, I'm a believer in Trump. I voted for him. He was my pick from the very beginning. What he's doing on taxes, both for the individual and corporations (for repatriation) needed to be done a long time ago. Now...the wild card is the tariffs. If tariffs last a long time, that could hurt the economy. But remember: stocks don't necessarily equal the economy. Stocks are WAY ahead of the economy. That's the problem. At tops, stocks figure in the most overly-optimistic views and when those don't come to pass, they come crashing downward in very hard corrections.
I'd say at tops (wave 5's) they're always overly optimistic and can always find a reason to justify their positions. Also, reconsider the news/analysts recommendations, etc. near previous market tops and you'll find they were just as bullish. It's why I go off of measurable metrics rather than feelings or broad-based blanketed thoughts that initially sound good but can't be backed up. So it's why I stick to fundamentals (firstly) then technicals/sentiment next. It's served me well because its all measurable.