Friday the market made its 5th higher high in a row. Below is a table showing how the market reacts to at least 5 higher highs and a 50-day high:
This study suggests limited upside and a good chance of sideways chop over the next 1-20 days.
The VIX system oulined in Thursday’s blog would have triggered a short index entry Friday at the close.
I’m having a hard time finding anything suggesting prices are likely to continue higher.