The recent selling volume seen on numerous indexes as well as the action in many stocks 'under the surface' is signaling a red light for me that we are nearing a top for this market. I really have trouble seeing this market move too much higher from here. According to my work, the path of least resistance for the next few weeks is lower. This market has made a HUGE run since August 2010 without any significant pullback.
Overall, i am remain bullish on the market and believe that the market will keep running higher BUT in the mean time, a pullback seems to be creeping in here and this pullback could be of the deeper/longer variety, not the typical 2-3 day pullback kind.
That's my two cents, trade YOUR plan and always know in advance what you are risking!