This market has gone completely vertical! Look at the hourly SPX chart.
The one good thing of a completely vertical move is that the trendline is very easy to break and there is hardly any support below it. The question is when does it stop going vertical or stall, that you don't know so wait for the trendline to break.
I am still watching oil and the dollar closely.
Here is the PnF chart of oil. It shows that 73 is resistance, but a more important factor to watch is the trendline the it is coming close too. A break of 69 would be a break of oil's uptrend line. This is something to watch going forward.
Here are those lines on the $WTIC chart.
/CL(oil) is down .58% to 72.09 right now. 8:57 EST.
The reason to watch oil is it can start a decline in stocks since it starts most rallies in stocks. Here is the chart of XLF, OIL, USD and SPX.
So far I haven't heard a signal bearish call yet, everyone is looking for 1100 or above. This is much different the the last moves up, which everyone was shorting or calling tops. Remember the market does what no one is expecting. The market may be too bullish at this point.
BPSPX is to bullish.
CPC(Put Call Ratio) is now bullish, which can been seen as bearish
So when you have a market that has gone completely vertical and the bullish sentiment is extreme, there may be a chance for a pullback at these levels.
