I'm expecting to see at least some retracement this week. the setup on NDX best expresses what I'm thinking here over the next few weeks which is retracement shortly, then another move up, most likely to higher highs on both SPX and NDX, and then very possibly a much more serious decline. We'll see how that goes. There is most definitely some weight to this sort of timeline however, as two possible workarounds for the debt ceiling have now been ruled out, with the Treasury rejecting the platinum coin solution and the White House rejecting yesterday a possible attempt to use the 14th Amendment to override Congress, saying that either an agreement would be made with Congress or Congress would 'put the nation into default'. I'm expecting a bruising battle and currently very high levels of complacency about this look overdone.