Close to the Bull Trap phase of the market cycle
If you haven't studied bubbles do yourself a favor and spend some time looking into it. I expect a market rally before or right after the election (though one may never come). But if you look at monthly charts across sectors and key equities it should be clear to you that we are in a bubble and that bubble is starting to pop. It's a normal part of the market cycle nothing to be scared of. A good way to gauge is to look at long term trend-line supports and see where we are in relation to that trend support (1 year, 2 year, 5 year support lines). This is just a reminder to please take the emotions out of investing and make decisions based on your time horizon. Personally...I don't like the time in the market beats timing the market meme. I think a smarter approach is to reduce allocations in equities that are very clearly popping...increasing cash allocations...and then taking that cash and DCA'ing it back into the market (over a 6-12 month period) after or during a correction. (not financial advice).