We have to remember that markets look the best at their high and the worst at their low. The market is overbought, but overbought doesn't mean "sell".

 Both 200-day and 50-day moving averages are rising. Uptrend continues for now.

At issue now is whether we are witnessing another mild, one-off dip or, instead, the beginning of a larger market correction.

In summary, the market is overbought and getting more so almost every day.

Over the past three days, SP-500 finally managed to break out to new all-time closing and intraday highs. Thus, the SP-500 chart is bullish, as there is no classical resistance -- by definition -- when it is at all-time highs.

The reason people don’t make big money in markets is because they chicken out too soon. The reason people blow up their accounts is because they don’t chicken out fast enough.

 "The secret to winning is learning how to lose.

That is, learning to bounce back from failure and disappointment—undeterred—and continuing to steadily march toward your potential.

Your response to failure determines your capacity for success."