Investor Insights Mike Williams

One would think that all-time highs would have rung in an enormous number of bulls. Indeed, that could not be farther from the case. Data show we now have 37 weeks in a row - and 70 out of last 71 weeks - showing lower bullish readings than normal. This registering at all-time new highs. Stunning.

Data are improving, jobs are solid, personal income rising, mountains of cash in the bank and we are in the midst of the early stages of the latest earnings season. By the end of Q3 data, we will have round-tripped most of the energy collapse and bad comps. Hinting that earnings projections are increasing. Soon, 2016 will be forgotten and 2017-2018 will be the focus - and they are rising. So is the GDPNow data.

While too many fret over every element in the news, data are improving on several fronts for the US. It seems pretty consistent - when other regions of the world get shaky--the US economy picks up the slack.

Here we are - new highs. And almost no celebration. I think I saw two headlines. This is good news for long-term investors as fear remains deep-seeded. The longer that lasts, the healthier the markets can remain. No man's land - new highs - just like 1982 all over again.

All the angst over Brexit and it has served as nothing more than another opportunity to take advantage of panic - or in this case "Branic." The dust will settle and the odds are high that years from now we will witness this as something different - another opportunity to improve when most thought it would be bad.

The great lesson of markets. Those who can react the least and stay focused on the long-term, tend to see the best results. Sure some years stink...but that has always been the case. Too much data has everyone thinking there is an easy way to sidestep problems. In fact, problems are part of the trip - a required part - to get long-term results. Ask yourself this: Think of the wealthiest market-timer you know? Think long - there is not one. There are also no market-timers on Forbes 400....and there never has been. Stay focused and be patient with your planning processes.