● The small-cap premium is back as cyclical stocks outperform mega stocks, improving overall market diversity. ● Subdued volatility in the energy markets indicates raw material costs contributing less to inflation than they have in recent years. READ MORE: Why the AI bull market is raising diversification red flagsCAPE fearsStill, there are plenty of factors that could derail the current streak. No indicator is 100% reliable, but every time Shiller CAPE has exceeded 30, a crash has eventually followed. If clients insist on market exposure, then point them toward the metrics.