March 21st Quadrupel Expiration

We're in record territory and dealing with skittish traders. Today was another waiting game for the best moves. The well announced sell off came just before noon and lasted for hours.

The Wall of Worry

This buy signal on the monthly chart is almost scarey. We're just beginning a new push higher without any significant corrections. We're witnessing something that's very rare.

The Breakout: But Will It Hold?

We've finally broken above the sideways channel that started way back in December on the 23rd.

Today is the first time we've exceeded the 1845 level in the mini S&P 500.

Great news.

But my gut tells me it just might be a trap. A pop above the resistance level is sometimes just a maneuver to suck traders into a long position, only to slam them with heavy selling. i have no technical reason to believe that -- it's just a hunch right now.

We will see.

For today we've had a nice clean run from last night's low around 1830 to almost 1847.

A good day.
Right Click, "View Image"  to enlarge chart.

Non Farm Payroll Drops Off Sends Market Higher?

More Correction! More Correction! Please?

I'm Baack!

Ok. So we've experienced a ridiculous rally since March 9, 2009 from '666' in the S&P. And now we're at the all time high territory near 1800.

Now we are about to deal with a series of pullbacks, I believe. I'm looking for the ultimate pullback to 1540-1560 which was the thirteen year resistance level - broken for the first time ever back in May 2013.
Once we go down and confirm that new level of support I think we'll see a very long term bull market lasting 5 to 10 years.

1937-1938 Dow Chart v. Today's S&P