This recovery seems strangely stable (to me) but from what I understand there has never been a government who has pumped this much money into the market in order to maintain the highs.
One thing to consider which I heard the other day. [paraphrasing] "Invest in the market in front of you, not the one you think should be." There are so many people saying "well the market would be lower if the fed hadn't printed so much money, etc etc" but you can't invest in the market where they didn't, so you have to look at where you are, what you think will happen and go from there.
Sure, you may not be losing on purchasing power of staple goods, but on almost any scale where an investment is valuable, you are losing, unless you can get in at the net crash. Just a different perspective.
To avoid fees, I have to make 2 trades a quarter minimum. I consider those fees to be losses, even though they aren't terribly substantial. So there is also that incentive to keep a float and wait for good moments like today for buys. There's no reason to buy immediately just because I got paid today.
I'm not done for the day yet. But that's why I say stagnant and not lost. It's more than just the one-phrase simplification I originally posted, as I was just focusing on that one aspect of it.