Intermarket divergences are now appearing. Market internals are still weak and appear to be weakening. While this has been the standard for the last few weeks, at some point in time, if the divergences are not eliminated, and if the internals do not strengthen, there will be a greater degree time and price correction.
Most concerning is market volume and market breadth. Both of those are trending lower, especially volume. If more volume does not begin to come in, it will be difficult for price to continue higher. Once the buyers exhaust themselves, it is only a matter of time before price stalls and profit taking begins.
As always, the trend of price must be respected, until important support levels are broken, as discussed in the Briefing. Also, there is a possibility the internals will strengthen to support price. Until that occurs, use caution on your long positions.