It appears that the long awaited for top is near at hand as a (likely) small degree 5th wave is in progress. This should complete the rally from the July 1 low. There have been quite a few close calls (apparent tops that weren't) along the way, but the current pattern has all of the characteristics of a final impulse to a top. It looks like the SP500 will double its 2009 low before it rolls over.
In order to confirm a top, we will have see a break of the January 31 low coupled with a 5 wave decline. Until then any top will just be a pullback in a still ongoing uptrend. The level of complacency has reached such an extreme that it is hard to fathom how a correction would not occur soon. However, this market has fooled just about everyone - even the bulls who have called for minor pullbacks - so who knows if the craziness will continue.