The late, great Esbjorn Svensson constructs (as was his wont) a perfect piano solo!
New 52-wk highs today include: EWZ (Brazil) +1.72%, RSX (Russia) +2.53%, EEM (emerging markets) +2.11%, VT (total world stock market) +0.63%.
The media appears preoccupied with the length of the current rally. By their count, it's over 7 years since the March 2009 low.
I would offer an alternative take.
In my opinion, the market has constructed (as is its wont) a perfect masquerade. It's certainly true that large-cap US stocks never really entered bear market territory over the past seven years. Less apparent was the resounding bear market in almost any other sector. Energy + commodities + emerging markets (heavily weighted in both energy and commodities) + micro/ small/ mid- cap stocks were pounded for up to -90% losses between 2014 and early 2016. If that isn't a bear market, what is? You will recall that I moved the entire portfolio into a version of the global stock market (weighted towards the suddenly out-of-favor BRIC stocks) on January 21, 2016. It's enjoyed a pretty decent run. Would it be prudent to pare back? I don't think so. Sure- if we look only at the US indexes, 'the market' appears overdue for a correction. However, if we look at the total world stock market, it's really just 'early days' for the current rally.