I just feel the risk/reward is skewed to the downside. Jay is throwing cash at all time highs. What would make them take off from here? But any whiff of bad news could get ugly fast. Bad news doesn't have to be in the US either. I keep close stops and holding pretty even but when the swoon comes I will be short.
I like the ultimate oscillator and on a weekly basis the S&P has been overbought since mid April and appear to be weakening. Q's since mid June. Small caps show definite decline. Does it matter? Maybe not.