We got really close yesterday to the 5775-5800 zone that I was looking for on the ES, but it miss by a little. Now this morning we've hit the zone, so this should be it for the rally I think. My thoughts are that we'll hold up in this range until the end of the week. Remember that most OPEX weeks are choppy or bullish as they need to make all the puts expire worthless they tend to hold the market up until that happens.
Tops are a process and take their time to complete and then out of nowhere a nasty drop happens. I think it starts next week for the first leg in it, which could end by the end of this month where "turns" commonly happen at. Then a bounce the first week of October and mid-late October is where the really nasty drop happens.
Have a blessed day.
