Many technically inclined traders attempt to identify levels on charts that they believe will be likely turning points. They use a variety of approaches such as extrapolation, stochastics, trend lines, Fibonacci levels, etc. Sometimes it works but most of the time it doesn't. It is just an educated guess that helps technicians feel like they are using a reasonable approach.
There is really only one way to time a top with any precision and that is to focus on 'flows'. Are buyers still buying? Are dips still being bought? Is strength being sold? Are extended stocks being chased higher?
These questions address the only issue that really matters which is whether there is still buying power flowing into the market to drive stocks higher. The current market has given us a great example of how 'flows' drive the action. The Fed has created a huge amount of liquidity to deal with the Repo issue and that money is flowing into the market and making the ideas of technical levels irrelevant.
It is as simple as that. Nothing else including fundamentals, charts, or news matters. It is the liquidity that is still flowing and pushing the indices to even more highs that determines what happens.
No one knows when the flow of liquidity will shift but that is what we have to watch to navigate the market. Those technical levels are useless right now. The may have some influence at some point but they aren't going to help you much right now.