They can always find a way to lift the index, I have nothing to say. Selling would be an extremely bumpy road.
The safest sell is when a key Daily and upward support is 'violated', everything above is just noise, some profit taking, but no serious distribution. In SPX cash your key levels are 1980 and 1820, that's where there will be some serious sell orders once index starts breaking those levels.
Sold All ERX and out 1/3 position in XIV....waiting for job numbers tomorrow...think I'm done for the day unless there is some heavy volatility this afternoon...will wait patiently though for S$P to break 2060's, then comes some real selling could happen as early as tomorrow if job numbers aren't a favorite on wall street.
Didn't expect that you would see it that low! Sometimes it could reverse after a fake breaking at a serious level, which can be very tricky.
That's just my 1 tick, the only way to look at macro and make any sense of it is by analysing longer term trends, as those levels are what key players are monitoring. If they remain, buying will resume, if they fold considerable profit taking will be initiated.