Why US stock market is still going crazy these days?

Stocks are overdue for a real correction, a pullback of more than 10% that could shake out some of the more speculative froth in the market.

What do you mean by "going crazy these days"? By almost ANY measure you care to choose, the broader market is doing the same thing it has done for 200 years...peaking & troughing within a defined & predictable range on a daily, weekly or monthly basis, against a consistent long-term rise at a rate of about 7% per year...what are YOU seeing (or do you THINK you are seeing) that is different from that?

The Price-to-Earnings Ratio of the combined 30 stocks of the Dow Jones Industrial Average was 15.73 yesterday; http://online.wsj.com/mdc/public/page/2_3021-peyield.html

That value has remained between a low of 15 & a high of about 20 for almost a century...

So I ask again, what do you MEAN by "still going crazy"?

http://1.bp.blogspot.com/-SG98yggMkPU/TatbPr2RinI/AAAAAAAAA_c/m71AUwwK1xQ/s1600/Dow%2BNormalized%2BPE%2BRatio.jpg

Does a point on that graph at 15.73 seem "out of the ordinary" based on history to you?

The stock market prefer stability.
Mrs. Hellen will continue Mr. Bernanke policy.
We had a good buying opportunity in last weeks in accordance with this article published on January 27:
http://iknowfirst.com/SP500_Is_This_A_Buying_Opportunity
Good Luck!

Honestly, we'd be better off if there had been a solid 15% to 20% correction in January instead of the scant 10% that happened. When I say scant 10%, I think the media cut the correction short - as soon as some major stocks hit 10% downside, they started saying the correction was over and people started buying again. PE's are historically very high and earnings aren't that great, the market needs to take a hit to inject some realism into the situation. If it keeps going up, the pain will just be worse when reality sets in.

Does Yellen matter?