SHORT TERM: higher open, new highs, DOW +61
So far this week Asian markets have gained 1.6%, and European markets have gained 1.0%. The SPX started the week at 2875, and gapped up on Monday to reach 2898. On Tuesday it broke SPX 2900, and hit 2917 on Wednesday. All new record highs. The DOW, NYSE and DJ World index all continue to work their way higher as well. The DOW is now about 1.7% from its all-time high.
This Int. v uptrend continues unimpeded, and remains in Minute iii of Minor 3. Our short term count from Minute ii SPX 2802 remains unchanged: 2819-2806-2850-2834-2873-2917 (now). This suggests a small pullback soon, and then a push to new highs before a larger pullback. With a negative divergence of the hourly RSI, that small pullback can come at any time now. Short term support is at the 2884 and 2858 pivots, with resistance at the 2929 pivot. Best to your trading!
MEDIUM TERM: uptrend
LONG TERM: uptrend