I view the market as being similar to a game of football. Sometimes the bulls are on offense and sometimes the bears are on offense. For the past two weeks the bulls have been on offense but the market is nearing maximum overbought and it is time for the bears to go on offense.
It is possible that when the bears are on offense they will not score or even fumble. However, the odds favor the bears putting points on the board when the market is maximum overbought.
There is still time for another push higher by the bulls but it would likely be a climax rather than the start of another move higher. The market is reaching maximum overbought and its time for the bears to go on offense. Have a great weekend.