A good start for the bulls today as the rally is still holding (3rd time indeed was the charm) but we have tons of resistance coming right up — ideally we base near the top of the range and then break-out. Red line is resistance and the hard zone is 1146-1153 on the $ES_F.
Bulls doing good job keeping bonds and gold down today but a pop in the trannies ($IYT), which are lagging today, would also give the bulls some more confidence. The animal spirits are there — the missing piece is bank stabilization. If financials can get their act together we could be in for a decent counter-trend rally up.