This isn't what happened in 1999. But for now, the inmates run the asylum. The market is upside-down. It makes no rational sense. Stocks with no earnings go up and good companies go down.
Traders are in control today.
I've seen it before, not to this extent, but it has happened before. Traders always get too greedy, though. They are unwilling to sell at any point less than the high. Anything less is considered failure. Waiting for the high to sell is not very smart.