Almost no new 52-week lows. Very bullish.

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Semiconductor index pointing north again. Very bullish.

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Micro caps at new highs. Very bullish, and etc!

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But this headline in MarketWatch has me worried

Jeremy Grantham, credited with calling the 2000 and 2008 downturns, says to prepare for the possibility of a “melt-up” that would set the stage for a market meltdown.

Could this be for real? 

This Dog Taking Herself Sledding Will Make Your Entire Week pic.twitter.com/NVHEoja5Ca

— BuzzFeed (@BuzzFeed) January 4, 2018

Outlook Summary:

2017 was a good year for playing offensive in the stock market, but in 2018 I will probably be more defensive.

The long-term outlook is positive.
The medium-term trend is up.
The short-term trend is up.