We are on track to get to 1113 on SPX (200 bar MA and +2 sigma confluence). NYSE MO at +244 is too high,
we are slightly overbought, a small pullback is in order.
Notice DJ Trans strong up thrust [and channel breakout] was followed by RUT channel breakout.
This is all good for the bulls.
Notice the direction of our CI Indicators on VXO and VXN. Our target for VXO is 17 (neg 3 sigma).
Our coveted SP1_MoMo Indicator shows SPX Advancing vs Declining Issues are thrusting upward. MoMo is nearly magic 10 number. We should expect a pull back first before resuming upward further.
Percent of SPX Components over their respective 200-Day MAs is now over 55% now and it is over its 50bar. This is all good for the long side. Like to see this number over 70%-75%.
SPX 2010 is way behind its 2007 Analog but indicators are relatively strongervs their analogs.
Notice the low put/call readings. This is good for the bulls.