In the last update it was suggested that the market maybe at a short term top, since when it has fallen by some 6%. If you had taken some of your profits off the table you will have cash ready to take advantage of the improving (from our perspective) valuations in some of your targets.
We might reasonably expect that the markets will continue on the journey North, it is just a question of when.
We need to be a little wary as it appears that the global recovery, as evidenced in most parts of the world, is primarily based upon consumer spending and not yet on industrial output and better trading figures. Housing in the US has slowed a little and the consumer mini-boom in the Eurozone is slowing. It is not clear when this pullback will end. However, the markets are always worrying about something and this may be an example of that. Nothing goes up (or down) in a straight line.
Keeping in mind our 5 year view of investments take advantage of any valuations that have fallen into your target area in the expectation of a move up in due course.