The market is selling off because the fundamentals are weak and the stocks are overvalued.

Stocks are still overvalued,

Even in an overvalued market, you'll still be able to find good stocks to buy. The market still looks okay.

When you say the stock market is overvalued, you imply that the stock market is going down. But there is a touch of lunacy in every bull market -- stocks can become even more overvalued. A rational investment policy in an irrational world is suicide.

Fundamentals make the market.

You really have a two-tier market with tech stocks going down and everything else going up. Part of this is because valuations in technology stocks got overdone this year and, at the same time, the Dow hadn't performed and now they look cheap.