High Advace/Decline Readings

As emini index futures suggested yesterday, the indexes are up. The US Dollar is down which could be the cause.

The indexes are up too strong. The current up-move is not very healthy by two reasons: it will bring the volatility up and advances and declines are hitting extremely high levels (known as overbought levels in technical analysis).

From
http://www.marketvolume.com/quotes/advance_decline_sentiment.asp
you may see:

For the S&P 500 advances beats declines by margin of 480 to 13. On the Nasdaq 100 advances beat declines by margin of 95 to 5.
Advance/Decline issues ratio on the S&P 500 hit 19 and advance/decline volume ration hit 40. See advance/decline sentiment at
http://www.marketvolume.com/quotes/advance_decline_sentiment.asp?s=SPX

I would not trade up - we may go down in the same way we are going up at such conditions.