The market rallies with a mixed technical picture. First the bull news is that on 9/8 the Advance Decline Line broke to new highs. Typically the market follows and it did today (9/9). The case for a pull back is on divergence of oscillators such as RSI. 

Today the Fed announced that they expect millions of more foreclosures.

The report showed that only "12 percent of U.S. homeowners eligible for loan modifications under the Obama administration's housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming."

This may end up adding some fear into the market. Overall the market is in a place for tightening stops or buying some PUTS / Contra ETFs for downside protection and profit.