Prediction: New High in next few days and then decent sized correction
Market will take out the 1565 S&P Old high and maybe even 1580 before stalling. That will coincide with 1st q earnings season which will not be good and give reason to take overvalued stocks down 8-10% through April. The deteriorating Chinese market and the strong dollar will start really hurting multinationals and their year end growth estimattes further bringing stocks down.
I am recently short the sp500 so I want you to right. I share your market action scenario but its almost text book to the point I wonder if I am underestimating the power of bernackis printing press. Still, I am staying with my short position, with a close eye.