It may come as a surprise but a lack of bears can be a big impediment to a stock market rally.
Basically, we need people who want to sell their equities or the rally dies. If everyone is bullish there's nobody to sell to those bulls.
When a market hits all-time new highs like the US indexes just have it isn't unusual to have some share-holders take profits. We've seen some of that this week. But bullishness still appears to be the strong, dominant opinion.
We are holding on to our 100% invested position. For now.
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