Can't Count the Bulls Out Yet

Has the rally from the 2009 low run its course? Or can the bulls keep the party going? Two points for the bullish case:

1) The market reacted at, and bounced strongly higher off of the Beta-X trendline (see last posting).

2) The weekly chart did not produce a “price flip” to trigger the pending TD Combo sell signal (see posting of 3 June).

Now then … will the bulls be able to drive the market to a new high from here? Or will it just end up being a failed retest that triggers a daily aggressive TD Sequential sell signal (see last post)?

I remain very cautious on equities as I await/watch for the result of the retest of the May 22 high.