Could go a lot higher. Ben's presses are still going 24hrs a day last time I heard and peoples f-analysts are telling them to get in. Why not? more commission for them. If you look at the metrics you will see that market is following FED money pretty closely so it may not correct until May. With that said I am buying at these levels, just not diving in.
The biggest thing that stands out to me is the weekly volume trend on SPY....over past 3 weeks it has gone from 870M to 520M to 320M....is it because the big players are waiting to buy more at higher prices?
I get the feeling it is being setup for a pullback soon...just like last March/April. With all of the pre-determined computer trades, I can envision a big sell at 156.70 SPY....take profits at all time high then add the profits on the pull back for the next leg up.
I agree with you....Big Ben is propping this up....it is a game of musical chairs. If he stopped the music right now, it would be UGLY!