While the headlines boast of the U.S. market's record-setting run, in a global context, we're just doing okay; as illustrated in the graph below showing a notable decline in the U.S.'s share of the world's market capitalization.
Simply put, foreign markets have been outperforming so far this year (consistent with the setup we've been discussing herein for the past year+ [video update below the graph]):
click to enlarge
Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust: