There are some interesting technical set-ups that developed with the market internals last week. Could indicate where we are going, at least early next week. For example: AAPL, IBM and GS all look sweet here, and suggest a continued push higher.
AAPL and IBM indicate they will test, at least, the low end of the high range. (265 for AAPL and 130-131 for IBM.) GS is at a resistance, but with their recent announcement to divest their prop. test a push higher via multiple expansion maybe in play.
There are many, many, more charts like this that suggest the SP500 will push higher. However, the market is still a bit crazy so I am actively trying not to be complacent. The craziness may continue until the Sept. Jobs numbers come out. (I think they will be good enough to continue the rise in the market.) In the mean time, I am looking for SPY Nov. put protection as the SP500 approaches 1116. (Keep in mind, I will cover it quickly if we get a major move downward, and will not hesitate to pick up names on weakness.)