Are We There Yet?

As the market continue to climb higher, many market participants are preoccupied on waiting for the correction to appear. While these participants wait and ponder on when will this market will correct, they are missing the opportunity to long this market. Those that are focused on riding this market up are not asking "When will the overdue market correction appear?". Instead, they are asking "Are we there yet? Has the market reached the top?"

Here are some observations to help those that are wonder whether the market has reached the top. From the chart below, one can easily see the SP500, DJ Industrial 30, Dow Jones Transportation, Nasdaq 100,
and the Russell 2000 are either making a new all time high or new multi-year high, and they are showing no sign of being topped out.

SP500 DJIA DJT NDX RUT

Looking at the the advance/decline line and the new high/new low market breadth indicator, one can also see the internal market is still holding up well.

A/D Line, New High/New Low,  SP500

When the market is topping out, it will send out messages to inform those that listen. Until the market send out messages to alert us to scale back and get ready for a reversal, do not try to short this market, either move to the sideline or be discipline in trading your plan.