Nonetheless, it's nice to have broken that recent high with broad participation and great Tick strength. Transports are not doing quite as well, however, nor are interest rates confirming a trend-wise rotation into risk. Furthermore, whereas yesterday we were in a virtual "no man's land," we are once again headed into possible resistance above (see prior downtrend line, high-level Oscillator cross, 50-Day MA, and 62% retracement).
Fulfillment of the Market's hopes could easily pierce this (though it is a bit of a long list). Consider hedging as/if we hit that target area (say SPY $150.25 to $150.75), but I wouldn't try to pick a top just yet.
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