SPX's (S & P 500, http://bit.ly/i0nsT) volume is very light so far today 6-14-10 (see http://www.google.com/finance?q=INDEXSP:.INX), so, the upcycle since 6-8-10's 1042.17 cycle low (http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=off&z=l&q=c&p=v&a=fs,w14&c=) probably didn't peak yet. However, trading long now, partly due to the BP oil spill situation, is risky. One should keep a close eye on BP now.
Also, the five day SPX Wall of Worry (SPX vs VIX) is very bearish (Wall of Worry collapsed, VIX fell much more than SPX rose in recent days), see http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=on&z=l&q=c&p=&a=fs,p12,fs,w14&c=^vix.
Trading Roadmap: WATCH SPX's 1102.83 upside gap/magnet, 5 day chart http://bit.ly/3qGxf3.
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