It seems to me it makes more sense here to protect paper profits here, hope for a new leg higher, and see how this plays out. With the fed getting more hawkish, will the rally continue? Will the rest of the world printing money continue to force foreign money into equities? Those are bigger macro fish than I can fry. Best Bet is to stay long and look for the next 5% move.
These charts show us at the top of the 4 to 6-month range.. 100 points in the S&P, 900 points in the Dow. Maybe we explore this range until the Fed starts a cycle of raising rates. CER