Presently, it is a teflon market as good news as treated as good news and bad news is shrugged off. Or put another way, an object in motion tends to stay in motion unless acted upon by another force. The bull market is intact until the bears can prove otherwise. The specter of a LePen victory, President Trump referencing that the United States needs a good “shutdown” or the meeting of the Federal Open Market Committee of the Federal Reserve could not put a dent in this rally as both the S&P 500 and NASDAQ Composite finished at record highs while the Dow Jones Industrial Average finished within 1% of one. Although stocks look a bit stretched at these levels given the trials and tribulations of the Trump Administration, the earnings picture provides solid support not far below. Furthermore, should President Trump make some headway on tax and/or healthcare reform, stocks could head higher. For now, we continue to be tilted toward the optimistic side as so far earnings season has been a bit above what was expected. It is important to remember that a) Trump lost the popular vote and b) the country remains divided in which both sides need to feel heard. Stay diversified. There is no need to be a hero. Your portfolio must be measured against your long-term objectives. Do not be caught up in the day-to-day noise of the markets.