It's hard to say anything bad about a market that keeps making serial new highs.
But there is a tragedy unfolding right now...
It's the sheer number of people hanging back on the sidelines, just waiting for something bad to happen to the markets.
It's not just the permabears, either - those guys never participate in rallies. And it's not institutional investors managing monstrous amounts of money, who have to start moving months in advance.
Rather, it's the regular people who feel like the market's "just too high," or stocks are "too expensive," or that they "don't want to get in at the top."
For whatever reason, those unfortunate investors are missing out, needlessly, on one of the greatest rallies of all time.