I can't quite tell whether the market needs a valium or not. On the plus side, consumer confidence is way up. On the other hand, the yield curve keeps flirting with inverting, which is a traditional signal of investor lack of confidence and a frequent leading indicator of a recession. Also on the down side:
... more and more Americans seem to be stressed out, miserable and depressed, according to two new opinion polls. One long term survey shows that personal misery among Americans is at its highest levels since the early 1990s, with people saddled with woes over healthcare, unemployment, paying bills and romance. (Link)
It's all very puzzling, which makes it a good time to be in passively managed index funds. Of course, if you believe Burton Malkiel, as I do, anytime is a good time to be in passively managed index funds.
