For now, price is in motion again to the upside and may very well continue trading higher toward and above the 1,810 "all time high" level. If so, hold it and continue trading long/bullishly.
Big stock market pullbacks do not usually occur during periods of time when the economy is picking up steam, such as now, so we should favor the long side but look for pullbacks (like we had last week) for entry points. Stocks are likely to become more over valued in the near term but with rising interest rates some money will rotate out of stocks and back into bonds. Sometime after March of next year seems to be the most likely time to anticipate a pullback of at least 6%.
Big stock market pullbacks do not usually occur during periods of time when the economy is picking up steam, such as now, so we should favor the long side but look for pullbacks (like we had last week) for entry points. Stocks are likely to become more over valued in the near term but with rising interest rates some money will rotate out of stocks and back into bonds. Sometime after March of next year seems to be the most likely time to anticipate a pullback of at least 6%.