For trading purposes, I view the market in one of two ways. It is either about overall market direction or it is about individual stock-picking.
Most of what we see and hear in the business media is focused on overall market direction. The market is either "good" or "bad' depending on what the indices are doing. Sometimes that is important but there are also many times when the overall market direction doesn't matter much and the best opportunities are in individual stocks.
Recently the market has been much more about individual stock-picking than overall market direction. Trying to predict what the indices are going to do on a day-to-day basis isn't yielding very good returns but select stock-picking has been working quite well. Even the big-cap names are doing well with Apple (AAPL) and other technology stocks.
This is an important distinction because when the market undergoes corrective action like it did in the fourth quarter of 2018, good stock-picking will not protect you. In a market like that the only thing that matters is overall direction.
Typically, stock-picking becomes useless in a corrective market but many participants are under the delusion that if they hold on to "good stocks" they will be safe. Those good stocks will likely bounce back nicely when the market acts better but they won't offer much safety in the short term.
Right now, individual stocks are still working well, which is the number one reason to stay positive about this market. That can change fast but if you manage your stock positions carefully you don't have to worry too much about overall market direction.