Here is how I am approaching this market from a trading perspective:
It is simple at the moment: The stock indices are in Vertical Development UP. Retracements are likely to be short-lived and shallow. Any downside “surprise” that carries more than below the low of the last two trading days is very to be completely retraced in a few days. Any top that eventually forms is extremely unlikely to be THE top. It is very likely the eventual top will be a process that takes weeks or even months to form.