As we concluded here last week, there was no compelling evidence that the selloff was anything more than a normal temporary pullback. The past week's bounce in most global indexes suggests that most felt likewise.
I'm not saying stocks couldn't sell off, they could. I just don't see any new reason why that would happen now. There's no compelling reason for a new leg higher, but there also isn't a reason for a selloff either. Sure, with stocks so high any number of factors could spark a normal 10%-15% pullback. But beyond that? What?