Trading gets tricky for me here.
The DJIA is up +137 points (+0.62%). SPX +0.33%. NDQ +0.23%. VTI (total US market) +0.45%. All at/ near all-time highs.
I'm inclined to avoid the US market.
What about emerging markets? EEM currently +0.2% to 44.90. More or less in line with the SPX. However, EEM is trading -2.3% below its 52-wk high.
What about the the total world market? VT currently +0.19% to 70.86, or about -0.3% below its 52-wk high.
What about bonds? TLT (the long bond) currently +0.03% and hovering around a one-month low.
I think US indexes are nearing resistance points which will (hopefully) lead to some consolidation over the next few days. My bet for the next few days: momentum will carry stock prices higher than most of us believe 'reasonable.'
(a) Emerging markets may play 'catch up.' I foresee no more than a +1% upside. VEIEX at the close.
(b) The long bond should see a dead cat bounce. A smaller position in RYGBX at the close.
(c) RIG (Transocean). I closed my last position on Friday @ 10.80. Currently off -5% and reopening here @ 10.23.
Few people believe in this bull market, although I'm now seeing a few comments that point out the brutal bear market in emerging economies and commodities in the Winter of 2016 (let's call it the 2016 Bear). I honestly think the 2016 Bear 'resets' the clock and allows us to consider the current Bull less than two years old. One thing I'm pretty certain of-> the global markets are in no danger of an imminent crash.