bull market has resumed

I like that Nasdaq is leading and we are in a seasonal growth period. I think Tech will lead this rally (if there will be one, nobody really knows).

good trading to you.
 
hi balda,

It's been the leader throughout.
And, clearly sets the stage for the general market to follow, as it's doing now.
It's the seasonal time for tech too!
 
Quote from gharghur2:

Impulse wave minimum print requirements: NAZ 2115 and SPX 1208 by monday...

Sure I was looking for a low today and higher levels over the next few days. Obviously, I did not expect a retest of the lows in the SPX to occur the very next day! This market is full of surprises. The NAZ did not retest it's lows, and this has created a positive divergence between the two key indices.
More...

Posted this thursday 9AM...NAZ hit it spot on today. The SPX had to go and test it's lows on friday again, so we'll give it till wednesday. The NAZ is leading the advance, the SPX/DOW will just have to catch up!
 
A little bit of a tricky day today, as the NAZ (2121) and SPX (1204) made new highs for the move. Yet we closed lower on the day right at, or near, the support EW pivots: NAZ (2098) and SPX (1191).
A two day minor retracement after strong gains is quite normal: Dow 25%, NAZ 33% and SPX 40%.
I'm counting today's activity as an irregular correction in the NAZ, completing a small fourth wave. See updated chart.
Expecting, a good up day tomorrow, followed by some sideways action on friday, and another move higher on monday to end the first leg up. Good trading!
 

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Tony,

I think that the SPX topped over the very short-term today and would not be surprised to see a 3-day pullback with a sideways to downward bias before another 5 day rally . . . ala 5-3-5.

Support should come in for the SPX initially at:

1185.95

and then 1181.60 over the next 3 sessions.
 
Hi Mike,

How goes it?
I took some profits this AM, but then jumped right in again in the PM ... ooops a little too soon.

Your probably right, if the last two days action is not an irregular correction (sign of strength).

I feel the SPX made it's first impulse high yesterday when it poked over 1200 for the first time in three weeks. Then corrected to 1189, before rallying to 1204 today, now testing 1189 again. This falls in line with what I see going on in the NAZ.

The NDX rallied to 1590 yesterday, pulled back to 1573, rallied to 1593 today, and then pulled back to 1573, before closing at 1575.

Two down days in a row, with new highs both days. Leads me to believe it's all corrective. We'll know for sure tomorrow! tony
 
Quote from Apex Capital:

Tony,

I think that the SPX topped over the very short-term today and would not be surprised to see a 3-day pullback with a sideways to downward bias before another 5 day rally . . . ala 5-3-5.

Support should come in for the SPX initially at:

1185.95

and then 1181.60 over the next 3 sessions.
More...

So far this morning, the SPX is trading as expected.
 
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