S&P 500- Is the party over?

If the trend really is your friend, you should be selling the hell out of the index. As pointed out on the chart, the index is heavily overbought, losing momentum and trading at a level with zero technical support. So assuming there is no "Plunge Protection Team", we could well see the SPX drop in excess of 300 points...PS. It's earnings season (he says in a whisper...).