What Happens After the Largest In-Flows Since 1996?

The last time in flows into equity mutual funds and ETFs was as large as last week's was January 1996.  The situation is remarkably similar to today: a strong run up in the market several years after the end of the economic recession. The start of the new year is strong as well. The good news about the market is featured on the front page of the Times and Barron's. Retail investors want to get involved.

This is what happened next:

It moved horizontally in a 6-10% range for the 8 months.