Kristina Hooper, chief market strategist at Man Group, says that investors need to "keep on dancing" while the music is playing, but she says the tunes are about to change or stop, with valuations setting the market up for a decline of up to 20 percent that could might take a while to get here but which could show up this year if the market has a bad reaction to the Federal Reserve cooling on rate cuts. She notes that the rate-cut cycle could cut short the current small-cap rally, contributing to a down or sideways period. Hooper isn't backing away from domestic markets, but says investors should rebalance portfolios and lean into the better valuations available in foreign markets.

She's not the only one expecting the market to take a breather or more here, as Mike Passante, director of financial planning at Focused Wealth Management says that technical indicators show that the stock market may be hitting resistance levels now, which could lead to a small pullback as the market resets and refreshes itself. Passante says the market has room to rebound to levels that are slightly higher than today, but he notes any more significant gains this year would require a big increase in investors' animal spirits near year-end.

In the Book Interview, Victoria Bateman discusses "Economica: A Global History of Women, Wealth, and Power," and introduces us to some women whose roles helped to make the world rich but whose exploits have mostly been ignored or forgotten by history.