The market is trending up again, with stronger signs of confirmation in place for the short run.
However, since there was a nearly six month run-up to the mid Feb. high before the recent dip
in price, it is not at all unreasonable to keep an eye out to see if the market might make a secondary
top over the next few weeks, or whether it will just gambol along higher. There is no special
technical reason to look for a top except that we have already witnessed an extended run up and
there have been plenty of occasions over the years when the first rally attempt after a major move
turns out to be a dud that carries a stronger warning. $SPX
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