Glennob, a breather at least, a consolidation. The current structure is unusually bullish. Dreams of a dramatic drop are just that--fantasies. An off-the-cliff drop could always happen but I'm not betting on one here. A 10 percent correction would be the norm from SPX 1100ish (a push into the low-to-mid 1100s still possible). But with shorts competing to get out again and investors competing to get in (which is the cause of the early arrival of the last 20-week and 10-week cycles), anything could happen.
The length and angle of the current ascent is not sustainable. So a breather into the 40-week low is a high probability.
Extraordinary times!
Ted
Know the PRESENT market configuration so well it *appears* you know the FUTURE 70+ percent of the time.