farsight, i generally agree with you. sentiment seems too...

farsight, i generally agree with you. sentiment seems too bearish to support much of a pullback. according to tickersense.com over the last week, bulls/bears = 33/50.

maximum pain indicates likely strike price of 86.0 on spy....but what i find interesting is the excessive build up of puts.

http://www.optionpain.com/MaxPain/Max-Pain.php

i'm obviously far more cautious. i prefer to buy and hold from a position of safety. when i have no clue on which direction the wind is going blow, i do what i'm doing at the moment..about 85% in cash at the moment. happy to see a breakout but secretly, would love to see the market collapse for another bargain buying session as well. :)