monday morning

SHORT TERM: bullish
Overseas markets performed well overnight setting up our futures market to open on a positive bias. We gapped up at the open, as third waves should, and then proceeded to rally right into 10 AM. At which time three of the majors: NAZ/NDX/SPX all ran into EW overhead pivots simultaneously; the NAZ 2300, the NDX 1690 and the SPX 1295. For the SPX that print was a new high for the bull market! At that point the sellers entered the market and we’ve had a quick pullback, which is also expected whenever the indices hit overhead resistance pivots. During the rally, the TRAN/R2K/NYA also made new highs, as those indices continue their solid uptrends. The rally continues to impulse higher, and none of the short term indicators are overbought yet. This week appears to off to a good start. Best to your day!

About tony caldaro

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