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A 5% SAFEMAX? This will put most people that have no pensions into early graves.
If you have a provident fund or do your own savings for pension then you will need R6m to retire safely taking my needs into account. ie.
I need R25 000 pm and if this is 5% then I will have to have capital of R6m to stay 90% safe.
Now while I'm withdrawing the R25k pm, my R6m will be in Index funds making gains of say 25% py.
Then I give me a 6% increase pa and after 20 years I will have R115,769,878.43 left.
This will give me good leeway for bear markets and crashes. Problem is, how many of us will have R6m to retire on?
Most certainly not me. My aim is R2m and this is more than most people I know retire on.
So my Portugal move is now out the question.   

Wanna know why she bounced? Check the 200sma. My PNC made the same move today for those that diss the power of SMA's.

I could have bought a brand new Corsa cash with the money I lost in a week. I haven't checked the challenge in 2 weeks now. At this stage, I actually don't care if my CML drops to 2700 (price bought). That way I can get out without being penalized. 

Dunno but my charts show 2 support levels. 

Ex-Div:

 Note because of next weeks public holiday several stocks are ex-dividend today (GND, GNDP, HYP, IPL, IPLE, OML, SNT, GRF, GPL, EQS, SAC, PGFP) Ticker:    Short Name:    Div
 EQS       EQSTRA        36c
 GND       GRINDROD      20c
 GNDP      GRINDROD P    371c
 GNDSTG    SBGND CTG    20c
 GPL       GRANPRADE    15c
 GRF       GROUP 5       35c
 HYP       HYPROP        213c
 IPL       IMPERIAL      440c
 IPLP      IMPERIAL P    349c
 OML       OLDMUTUAL    33c
 PGFP      PSGFIN PRE    357c
 SAC       SA CORP       16c
 SHPCB    SHOP CONV    2500c
 SNT       SANTAM        242c

I totally agree with you Patrick and would not wait to invest. The market could stay happy for another 6 months and then correct to a value higher than today. Then you will kick your butt for staying in cash. Believe me as I did that quite a few times.
I vaguely recall a post of mine where I stated that had I just bought CML and stayed in, I would have made 1200% gains but scary pants me kept going into cash at every mention of a market correction. Ended up with 320% less tax at 40%.
We might even have a few smaller corrections keeping the markets flat for some time and as you say, the growth will sort out the high PE ratios. You also don't want to loose divies.

So you still think there will be a 10-15%  correction?

No doubt yozzi. The S&P500, Indi sector, TOPI etc are trading too high above the 200 ma and the happiness of today is not helping. One can argue that this may be a new normal but how do you argue that the Indi is trading at a PE of 24x and the ALSI at +17x whereas the ALSI's long term average is 14x
Should the ALSI correct back to a PE of 14x from 17x then the mind boggles as to the percentage drop. Perhaps a year bear market?

Futures close out today at 12.15. This was supposed to be a non-event but due to developments last night, it could turn out to be a volatile day.