It is hard for me to put together a strong argument to buy or sell short this market. How does one buy a market that is up nearly 5% in a straight line and is overbought heading into negative seasonality?
The short side is not too attractive either as investors still seem to be fighting this rally. The put/call ratios have been showing put buying and surveys show that investors remain bearish and under invested. For my part, I am more focused on individual situations rather than trying to make a market call.