What's Happening in the Stock Market?

I just want to acknowledge that I have no clue why the stock market has risen by over 30% and is staying there since earlier in the year lows. I do understand the explanations given as I look into it. It's psychology and not logic. That only lasts so long. I understand why it went up in the first place. I just have no idea why it is persisting and has not yet come down from 9,000 for the Dow Jones. It should not be more than about 7,500 to 8,500 max within a few months. All of the indexes are clearly overvalued.

What mystifies me is that it should have came down earlier in the Summer. I still believe it will come down so that if you can get your money out of stocks and into bonds, now is the time to do so. Maybe transfer funds from stocks to fixed income funds within a 401K or something like that But, unless this market does go down, I may be terribly wrong. Only time will tell. There is no logical reason for the markets to be this high though.