These days most working stiffs are involved in the stock market if no more than mutual funds in their 401Ks and IRAs. Many look to Cramer for advice. So just because someone who is probably not an active trader is passing along stock tips (and nobody said they have to be good stock tips), that is no longer a clear sign of a top. Interest in the stock market has become continuous for a portion of the nontrading population.
I've always wondered how exactly do markets change. I've analyzed price charts from centuries ago and they all look damn near identical.