Almost no new 52-week lows. Very bullish.

Semiconductor index pointing north again. Very bullish.

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

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.