Markets precariously poised

Nifty has relentlessly marched upwards in this entire month. It has retraced more than 100% from its Decemeber high which is alarmingly dangerous to bears like me. Most of the Nifty 50 charts and other Midcap charts looks very bullish. Many charts; to name a few - LT, TataSteel, SBI and ICICIBank have moved passed their 100 Day EMA and have formed nice cups.One can see good volumes and buying in many scrips which is slowly pushing me to become a bull from a hard core bear Though there are no signs of weakenss on Nifty except for it is overbought, a pullback looks eminent.. I .The main thing to watchout will be whether this pullback is healthy retracement forming handle to the cup or next leg down. It appears to me that a bottom is in place for now and 4400 is a rare probablity. However todays volume has been quite highwhich tells me that this recent upmove is about to get over and so no new longs should be created at this juncture.