Also, yesterday the VIX was up even though the S&P was up significantly, and VXX actually went up a little as well, a couple of times going up *while* SPY was going up. That usually signals a reversal, let's see if the tendency lasts a couple of days.
I also think it may be a major top here, but it will take time to form, and no one will realize it's happening as dips will be bought. In other words, they may continue to try to take it to 1500, but I think it hits a wall there, or at 1490 or so, and tops and falls.
Since the "strategists" and other Wall street players love to base their thesis on historical trends, a 4 year bull market since March 2009 is historically unprecedented.
IBD Man , those indicators can be beaten , watch pullbacks and sideways tight action .
What does real selling look like( trending day down) ? How many do we get follow thru on ? How many real buying (trending days ) do we have up ? OK ,the remainder of the trading days we see consolidation or range days where the market is in balance (70 %)
Look at a weekly chart and draw a channel from the 2009 low . We test always support / resistance! Knowing where is key !
I hope so. I am still holding SPY April puts that I got last week. I also bought some March VIX calls that I bought a couple weeks ago. I expect volatility to spike very soon, too much complacency in the market now.