I find it exceptionally difficult to get any feeling about where a market will pause, or even worse stop, when there is no history to give guidance. For the DOW a friend has suggested 14900 as a target. But that's just 100 points from where we are now.
The last two bull runs were over 1000 and 700 respectively. So taking 14600 as the starting point I would not be surprised at a 500 point run. that would take us to 15100. That's only 300 points above where we are now. A strong bull run could manage that in less than a week. Two flies in the ointment though. The market must encounter resistance at 15000. It's such a psychologically important number. Both the 13000 and 14000 held up progress as the market made its way up.
The other fly is time of year. I speak as one who has repeatedly been bitten by the skidding halt the market makes at the end of spring. I don't think the fact that, for us in England, spring has yet to materialize will change the situation. I watch the daffodils manfully coping with freezing nights and making the most of a few sunny days. And when it does not freeze the rain pours down.
Net result: I am torn. Can't afford to be left out but very aware that there is a better than 50% chance of a viscous turnaround in the next few weeks.
What have I done? I've added a few more stocks to my portfolio: TA TGD and NLS (all on the US market). Another buying spree is on the cards for later today. I might even poke my nose into the UK market which is also on a roll. At 6387 it has a long way to go before it hits its all time high, just 50 points shy of 7000 set in January 2000. So a good 550 points to go. But it also has that diagonal resistance line to contend with at about 6550.
My conclusion: make hay while the sunshine, but keep a tarpaulin close to hand.