There are radical differences between the indices and the SP500 is no exception. Staying too long with just one index can make you oblivious to the other patterns than can be giving you a completely different picture.
This SP500 did not rally as aggressively as the DJIA and most of that is due to the fact there are only 30 stocks in the, DOW compared to 500 in the SP500.
This could force a drop sooner that we may think, but we need to keep the options open.
At this time the "C" wave bullish run is still on track, but I will have no qualms in dumping it if necessary. The bigger impulse should still be in progress so overall this party is not finished, but a correction is still due.
We will be pushing our luck trying to milk this stage of the run much further, but we have to see if these last two sequences play out. We have about 5 trading days left before we hit the new moon date, which can produce very bearish turnings. The VIX has also many gaps and has crashed down, so this seems to be setting up for something, where fear and panic will strike into the hearts of investors. Bears always attack from the top when the bulls least expect, but