I don't think that right here we will get the "satisfaction" of a full 10% correction, 1500 +/-20 should serve as very strong support, IMTO. Got to change the psychology and view the extremely high BP's as an indication that a lot of stocks are in positive trend. One of the "things" I am looking at is the relationships between the number of stocks above different moving averages. The Sox on the short side of the list (the 10, 21 and 50) is now at an extreme (98,95,97 respectively), as I often say, how much higher can it go? Yet, while short term that will probably cause a retrenchment, unless the number for the 200 DMA drops under about 42 (half what it is now) in a retrenchment, I'll have to stay positive overall on the market medium term. You can call my current "bearish stance" just a "correction" stance, not a grizzly bear.
Zeev
