One of my favorite indicators is the $SPXA50R. When stocks get either too overbought or oversold then a change in the market's direction is not too far behind. Currently, nearly 80% of the SP500 is above their 50 day moving average. Yes, it can still move higher but this is a good indication of there being a high level of risk in entering a long position in the market at this time. I am thinking at some point this week the market's direction should change. Accumulating a position on the short side has a much better risk/reward ratio to it. Good luck trading this week.