I think a 'crash' is not likely, may be a bit lower yet to cool the excessive heat. The markets have been reacting to the US FOMC saying they may tapper their QE. Come September, if the US economy is good and the Fed reduces its QE, there will be no surprise and only improved economy. If the economy is not as good, the QE may stay or even increase, again buoying the markets. Either way you can't lose.
Also there is an Aussie election in September and if Liberal wins, the market will move to new highs. If labour wins, God help us. Have to remind myself to buy a few puts with tight stops just before the election.
TJ, I will take your advice and buy like crazy in the next few weeks. The banks, BHP, WPL and .... APG?
APG Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held