New All Time High on S&P 500 and Counting

We got the new high this morning on the S&P 500 Cash Index, but still no sign of selling. Shorts are currently getting squeezed. Shorts need to remain patient and wait for a better signal, no sign of that yet. Market remains bullish. My initial reading on the price action so far since breaking the 2007 highs (1576 $SPX or about 1571.50 on the ES M13 Contract), suggests that we could see a continuation higher from here. Consider long entries on a pullback to 1565-1570 ES. We'll need to watch price action to see if the continued bullish momentum can confirm, or if this latest breakout fails. We'll know soon enough. I remain biased to the long side at the moment, so I continue to prefer buying dips. I am still cautious and aware that a correction awaits, but for now, I remain bullish. That view can easily change and when it does, I will post it here...