With Fridays move up to 931 the current rally is starting to get stretched. (More in the weekend and Sunday update for subscribers.)
Just looking at the point and figure chart we can see stiff resistance coming in at the 960/970 level. I have my doubts the market will be able to penetrate this resistance without first testing the lows.
Also take note that we now have 14 X's in a row. Anytime a market or stock can put in 20 X's or more without a pullback it is a sign of a severely overbought market. I'm not sure we will be able to tack on another 6 X's before a correction as many of the sentiment and breadth levels are already pushing into moderate to excessive overbought or bullish readings.
If we do manage to reach 960/970 without a pullback it would probably be a low risk short entry for any short term traders.