Update: 9 Feb 2012
Saw the London FTSE resistance line and thought I would post.
On the flip side, RSI on the two day chart still is not near overbought. In fact, it is showing an incredible divergence from price.
I really don't know any more. However, I do know that I will try to no longer make decisions until indexes turn instead of trying to anticipate the turns based on historically high levels. It is clear that we are dead set on making history in everything lately.
"Few things are more irritating than when someone who is wrong is also very effective in making his point.”