Starting last weekend I've started to see signs of the instability of the current up segment. Volume has dropped off significantly. The gains are becoming smaller. Resistance at $SPX 1105 was broken after a potential top formation was formed at the resistance. Now the new resistance seems to be at the top of the 8/10-8/11 gap. Chances are this too will be broken next week. I had this drilled in to me this spring: uptrends can teeter on the brink of collapse for a long time before they finally collapse. Another maxim I've heard time and again is to not bet against the trend. Heeding my [expensive] learning and this advice, I'm not betting against this trend. It sprouted from a very solid island bottom, and I trust that. Right now I'm suspicious, but I'm holding on.
Disclosure: Long MFA