We're getting close ... but we have to wait until the end of the week to find out what's happening. If the Transports and the Dow close another all time high, this rally is on like Donkey Kong. If not, look out below!
Long term index investors will want to look at whether they are overweight US equities. If so, re-balance into something that's lost (like, say, emerging markets or Gold markets). Only sell if you have to ... but sell to re-balance.
Here's the position we're in now (google finance)