We've come a long way since the 666 bottom but as you can see bulls are still completely in control with all trends intact. Of course even a few, long high-volume red candles could change that but until that time comes, stay long.
However, as we mentioned in the previous post we think that the next 20% is going to be much more difficult than the last 20% and we'll be expanding our scans to look at more sectors than just our usual favorites (i.e. beyond just commodities). We like tech a lot and are going to get busy trying to find decent tech set-ups this weekend.
Treasuries are hanging on to support - not quite over but they have to bounce soon or trend will continue down.
The S&P is currently working its way through resistance and if that goes then 100 and 107 next stops.
We've enjoyed the run in commodities but if they stall we'll be looking for a rotation into tech.
Ag-Chems were the first commodity group to run into resistance -- working it off now.
Trannies right under resistance and and the 200 SMA.
We can see IYR run up to the 200 SMA and then 40.
Gold taking a breather. Sideways action would behoove any possible break-out in gold.
Gold miners also consolidating.