Nikkei 225 index monthly chart

The rise in stocks hasn't just been contained to the US and Nvidia. You don't have to look far to see fresh record highs all over the place these days. In Europe, the DAX and CAC 40 are doing just that and in Asia Pacific, we have the Nikkei and Australia's ASX 200 as well.

This speaks a lot about the prevailing sentiment in the equities space. And all this despite traders paring back on rate cut bets by major central banks to start the new year. Is the euphoria getting out of hand? Or is this FOMO rally going to have more legs this year?