We think that we’ve come to a juncture where we will see some sort of material pullback in the stock market…even if it’s not a major top for the stock market just yet.
We think the market can still see a bit more upside follow-through over the very-short-term. However, it is getting to the kind of overbought and over-loved level that is usually followed by pullback that last more than just a few days…and take the market down by more than just 2%-3%.