As the stock market races toward 2,400, it can become very easy to get caught up in the hype of the rally -- especially when you observe how quickly the upward trend has gained traction. Long-term sentiment in the S&P 500 remains at excessively optimistic levels as most investors and asset management funds believe that there is no short-term top in sight for this rally. However, the big fear that I see at present (especially for new investors who are just passively watching the market go higher week by week) is that all recent corrections, bar none, have been rescued rapidly.
Therefore, with the stock market at just under 2,350 I think it's fair to say that if we experienced a daily cycle where the market shaved 100 handles, buyers would step in as they would see it as another buying opportunity. In fact, if we underwent an intermediate decline…
