Coming back to the point that we are another critical juncture, the T2101 Absolute Breadth indicator is now at a level that as been associated with tops and bottoms in the past. Frequently when this indicator, which measure the absolute difference between advancing and declining issues, moves above 60 a top or bottom may be forming. As we are currently in a rally, the possibility of a top is the concern. In March of 2007, there was a surge to mark the top, a pullback in the indicator, and then another surge to mark the bottom of that correction.
This is why I am taking it slow adding to index positions.