New money is now slowly trickling in. The American people don't want their president impeached, but it is clear that the GOP will drag out the pretense of impeachment through the November elections. Peace is breaking out all over, including Kosovo and the Mideast. Earnings are not fantastic, but there are no major surprises and expectations are mostly for better earnings in 1999. No new major hedge fund bailouts have hit the news.
Brazil seems to be stabilizing.
Japan is making semi-credible steps toward solving its woes. This is a major improvement . From here, I see the US stock market making new highs, most likely in 1999. We are subject to fluctuations of ten percent any time and we typically expect to see ten to eleven percent growth with dividends reinvested. I see no reason for an extended bear market, so stay fully invested to your asset allocation comfort level.