The objective of investing (at least to me) is make a buck at least risk.
When the market favors momentum, you do not really care a lot on value, but the momentum. In this phase, the low instrinsic value stocks relative to the stock prices do not fare well.
At market bottom like the last one in March, value is more important and then safety. For some strange reason, these stocks were not recommended by most experts/analysts. They doubled more than other stocks for that year.
The above two could be verified by Value Line's timing rating that I consider to be a momentum rating. For market bottom, you stick with low rating stocks after you calculate how safe they're.
Dividend growth stocks may not indicate value. It indicates the companies have matured and do not need cash for development/research. They offer good total return esp. when the market is sideway. Very rarely they increase the stock price by 50% in 3 months - from my real data over 5 years.
Investing on dividend growth stocks is a trend when more folks retire and it could self fulfill. They think it would give them income without considering on appreciation. The extreme example is Lehman Brothers.
Now the market could heading to a correction, so cash could be the king. Yes, market timing is not a science and we're all guessing. If we guess it right more than 50% of the time, we make money.