These comments from Saturday still apply:
The market has the look of one that will experience a two to three week correction sometime in the next two to five weeks, but it may not occur until after another leg higher, possibly into the 1,430 to 1,440 range.
Homebuilders, a market leader, looked unsure today - how they act in the coming days may tells us something about risk in general. We still have some DeMark concerns that may surface between WED - FRI of this week. We’d like to see how some things play out before doing much more with cash. Given what we know now, we may be more apt to lock in some gains rather than add to risk, but it is too early to tell.