As of November 4th, 2013: Dow Jones reaches 15,639.12 points, S&P 500 reaches 1,767.93 points, and Nasdaq reaches 3,936.59 points.
All indices are reaching at their all-time highs level. Risks of going down are increasing. In reality, companies' earnings are not bad for this year. Some stocks have grown over 400% like Tesla, Yelp, some solar stocks, etc. Is this a bubble?
In order to go higher, the Dow Jones needs to pass the previous high at 15,721 points. Is it possible? Certainly yes! However, Dow Jones is currently trading at a channel from May to present. Is this a distribution top? Possibly! If this is the case, the Dow Jones needs to go below 14,700 points.
This means the next few weeks are crucial for any turnover.