One point came to mind after I made my earlier post. It is possible that markets will just continue higher next week to new rally highs with only a modest 1 or 2 day pullback in between. In that case, traders will need to be on guard for an earlier end to the rally. In fact, if the rally continues to new highs while volume continues to decline, it would be an indication that wave 5 is coming to conclusion.
While looking through a number of stock charts this afternoon, there are a fair number of bullish setups. It has been my experience that the largest number of bullish looking chart setups occurs at or near market tops. (Note: this may be a bear market phenomenon. Most of my trading experience has been during the secular bear market that began in 2000.) Why that is is a mystery to me, but it seems to trap a lot of traders. There is a tendency to want to trade these setups, increasing long exposure, at just the time that markets are ready to turn lower. So again, caution is advised.