Quick Update:
The market appears to be making its decision, as six of the eight stock indices we follow have already made new bull market highs today: SPX/DOW/NYA/TRAN/R2K, and for the first time in a month the NAZ. The only uptrending laggard is the NDX, it’s bull market high is at 1848, todays high 1834. The SOX, is the only other index not in a confirmed uptrend. It remains quite a distance from its bull market high, but only about 1% from confirming an uptrend of its own. The SPX has hit 1459, just three points way from our target. However, if the techs start to lead, which they are doing thus far today. The next long term EW pivot point is at SPX 1530. We may have a clear sign by the end of the day.
