The US indexes continue to climb, now 730pts higher on the sp'500, since the ongoing multi-month wave began in Oct'2011. There looks to be a further 10/15% upside into late spring 2014, before the first opportunity of a significant pull back of 17/22%, down to the sp'1650/1550 zone.
With continued QE from the US - and other world, central banks, US and world equity indexes look strong, and set for further upside for another 4-6 months.
At some point we're going to see a major multi-month drop - probably on the scale of summer/autumn 2011. However, let me be clear...the broader multi-year top, does not look viable until late 2015/early 2016. We could still be a good two, even three years before the next major collapse wave occurs.
For the moment..the market remains outright bullish, and holding at MARCON 7.