This market is getting more and more dangerous, even though rallies did happen...but I think the gains per day is too quick. If they are hoping that people will chase the trade....they are very wrong. What used to be 5 day handle rise has been compressed into a 1 day rise. At these levels if you are going long...you cannot afford to be complacent.
Here is a chart of the SPX, it appears that somewhere near Oct 01 - 05 the market could present an opportunity...whether that will be the top or bottom ...hah that I do not know.
The next level of resistance is around 1109.5....that aside we must remember that most of the overhead supply has been sold off and I do not write off the possibility that the market can still go higher. On the other hand, any sell off could be so fast that you will not have a chance to get your hands on the sell trigger. What is the whole point Market Makers/ Stock Gods...? This is no fun.
I am focusing now on conservative swing trade setups and do less trading if not necessary.
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