So I feel like I made a dumb move a few months ago. I normally just dollar cost average and don't try to time the market. But I recently rolled my previous 401k over to an IRA and tried to be fancy. The whole 401k was in an S&P500 index fund because that was the only cheap one. In my new 401k, I'm also putting all my money into US index funds because they are really cheap. Meanwhile, the US has been in a bull market for years now (the entire time I've been in invested in the markets, it's been a bull market).
Considering these two things (exclusively investing in US in current 401k, and very long US bull market) I figured I'd put pretty much all of my rollover money in international - not for the long term, but temporarily. This has caused me to be heavily weighted in international markets. If there was a huge drop in US markets, I figured I could seize on that opportunity to buy a bunch of US index funds. Otherwise, I was thinking I could gradually transition into a more normal asset allocation (like 80-20, or something like that).
However, pretty much as soon as I did the rollover, international markets started tanking, or seriously under performing. VXUS is down about 5% and S&P500 is up about 5% since I made the trade. The US economy is continuing to look up and people like Bogle are saying you're much better off long term being in the US markets. I'm wishing I wouldn't have tried to do anything special and that I would've just bought straight into my planned long-term asset allocation when I did the rollover. I'm resisting all of my urge to be emotional and sell a bunch of international shares, as that will just lock me into my losses, but I also worry that I'll lose out on a bunch of future gains if I keep my portfolio heavily weighted towards international.
What do people recommend I do?