Looks like a pull back is coming. Looking at a bunch of stock charts there are some gaps that need to be filled. I am betting the market will be higher by year's end but in the short run S&P looks like it could go back down under 1300. I would bet all of those gaps will be filled on each of the stock charts I looked at. And at first I thought we would see a S&P level just over 1370 (inta-day) before it happened and I thought we would have been at that level by last week. ( It could still happen at 1370) But now I think the pullback will happen before the 1370 level. The VIX chart is the reason I think so.....with a reversal happening last week. That being said trying to time the market is a bad idea but I like CAPS giving me the chance to do so without risking money.