Where do we go from here?

This Dow 12200 and NASDAQ 2700 is becoming old hat. It feels like we were over at a friends place for dinner, had some wine, played some cards or talked about old times. Now it's getting late and we're just talking for the sake of talking and nobody wants to be the first to get up and leave because maybe the night will get interesting again.

That is what this market is like. Nobody wants to drastically change their long/cash (if you're short, god be with you) positions for fear of missing out / overcommiting.
One side is stronger than the other; were headed higher, this party is gonna be an all nighter. It's just a matter of time.

You don't need fundamentals if you have psychology, and you don't need psychology if you're crazy.