You are so right on! The indexes are close to all time highs and yet 40% of the stocks are 20-30 percent off their highs. The high flyers Amazon, Google, Netflix etc. heavy weighting make the indexes look like everything is rosy. They should have hiked a couple of years ago and are just now doing it not because the conditions warrant it but because they would look more foolish than they already do if they did nothing. If anything world wide conditions are worse now than back in Sept. when they used things like the China slow down as an excuse not to hike then. When things do not look so good they just change how things are calculated and presto, everything is good again.