Look, I've been at this since 1982. At some point, you begin to recognize a market's "feel".
Right now, this thing feels like it's about ready to take off like a scalded dog. Yes, my "best trend" is on a Sell. Yes, Cumulative A/D Volume is on a Sell. Yes, my "Secret Hedge Fund" model is on a Sell. So what?
Those tools are great. They really are. They're also not guarantees. They get wrong fairly often, like all trading tools. Further, I cannot tell you how many times I've seen the market at or near new highs, consolidate just enough to back into a bunch of marginal sell signals right before it launches higher. From time to time, our great indicators betray us. They just do. That is why we're not all filthy rich by now.
I'm sure that this market will correct in a meaningful way, in time. The "feel" now is that that correction will come after burying all the oscillators in "Sell Territory" for a time. This might be several percent higher.
Maybe I'm wrong. It certainly won't be the first time. But at least be open to thinking back at other toppy looking markets that didn't top. Think about how they felt. Look at what the indicators did (stockcharts.com is a great tool for this). See for yourself if I'm making sense.
Mark
Yes me to, and I remember the day when indicators were just that and you'd have a normal correction. Now it seems whenever the market goes sideways instead of breaking down a bit, its up. I could see that again except the Vix hit a low it hasn't seen since 1993 the other day and usually after ignoring the million bad reports something creates one. I'm not thinking much for a correction but real volatility should start one of these days!