As usual opinions differ on the HUI short-term outlook. Steve Saville (very bullish on the HUI medium and long term) thinks the odds favor a significant pullback before blastoff.
Frankly I am agnostic on this question.
“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi