But when will the correction come? This rally has been dubbed the most hated stock market rally ever. Even sentiment numbers are starting to turn negative, which as a contrarian indicator, means a higher market.
I'm preparing this commentary on Friday afternoon so not all the charts will be reflective of closing prices.
Here's a multi year daily chart of the S&P500 and we can see that the index is in the middle of the last resistance zone (purple line) before assaulting the all time intraday high of 1576.09 set in October, 2007: