The chart below is a comparison between the ASX S&P 200 and the NASDAQ 100. There is a remarkable divergence in perfomance over the past six months. The 200 continues to limp along inside a broad congestion zone that makes it hard for trend followers whereas the NASDAQ 100 continues to power along.
Whether the movement in the NASDAQ is a new bubble inspired by people going damp in the nether regions over Facebook is irrelevant. What is relevant is that is has been going up and it shows what future economies will look like. One day all the stuff we dig out of the ground will be gone and we will be left with nothing but a series of friggen big holes.