H.S. Dent's take on where we are FWIW: The markets have rallied strongly into the next resistance level at 930 on the S&P 500 and 8,600 on the Dow. The markets are likely to pull back from here back towards 900 on the S&P 500 and 8,300 - 8,360 on the Dow and then surge one more time into next week towards 8,870 on the Dow and 956 - 959 on the S&P 500. Then we will hit a key crossroads for a potential top, or a pullback and then a longer surge towards 9,650 plus into early September at the latest. We are getting closer to a longer term sell signal and will continue to monitor our technical indicators for more guidance.
