WE just had one of the lowest 5 day trin values in years, and normally that leads to a quick small correction, 3 or 4% at the most.
Most of the trend following indicators are all short term bullish, so a run to either 1425 or even 1450 is likely before the big 10% or more correction into oct starts. I should probably be shorting right now, but am not having a good precictive ability lately, so better to wait till I predict correctly for awhile before I actually trade.
bottom line: Market needs on more retest of june 4 low before a rally into the end of the year, or we could just keep rallying a couple more weeks, and then the bull dies. Not sure which, so just waiting for now.
