- the index is at the upper Bollinger Band level, where it has consistently met with short-term resistance over the past few years; and
- both RSI and MACD are diverging.
Although we may linger near the highs for the next few days, possibly into next week, I think another selloff is coming in mid to late February before we see further highs. I do expect new all-time highs in the broad markets this year but only marginally so. The intermediate technical picture for the broad markets, however, is that a new crisis low should occur (lower than the 2009 low) sometime in 2016 or so, based on the Elliott Wave expanding diagonal shown in the monthly chart at the bottom.