Hi Cap! I honestly don't have much of a clue on the projection of this rally. If I look at the pattern indicated by the bullish percentage chart, it is near the red dashed vertical line. At 82.8 %, I'd think it's a bit toppy.
If I look around? The local economy is going great guns. The skilled employer/employee supply/demand relationship goes in cycles. When the economy is down, jobs are scarce and the employer has the upper hand. I'm noticing now, jobs are everywhere, and the employee has the upper hand. We only have 3 people on our night shift in the dept, 2 of them found better hours elsewhere. This helps trigger inflation. The way to retain skilled labor is by offering a better compensation package. Upper management isn't going to give up their cut, so that means raising prices.
In regards to projections on the rally? I'd be lying if I claimed to know. I have learned, and I saw you touch on it with your post about the weekly charts being oversold, longer term charts seem to take more precedence than normal when things go extreme.
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