From Break Through To Follow Through

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Yesterdays report discussed some break outs that were taking place in various sectors.  Wednesday, we saw some follow through in those areas too. Just like a baseball player at the plate, when we get a decent pitch tossed our way, we also need to follow through to be able to possibly score.  Some may wait for a pullback or start a small position and add on a pullback later, since it is early in some set ups.  Lets review.

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SPX -  This is the follow through that we expected. We are only on Day 5 today, of a daily cycle that can last over 30 days.

SPX 5-25 Read More

Break Through

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Tuesday was a Break Through in a several ways. Let's take a look.

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SPX -  From the weekend report.  For many reasons,   we were waiting for a break out higher  ( not lower like many other analysts).

SPX WKLY 5-20

SPX Tuesday-  We see a Break through.  This is Bullish. Today is only day 3 of the 2nd daily cycle, following a R.T. Daily cycle.  That means that we could really see this move higher over time.  Picture this :  Many were shorting what appeared to be a H&S, and they may now start covering and cause a buying reaction.

SPX 5-24

And the NASDAQ?

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Setting Up

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We didn't really see a whole lot of change on Monday, but as mentioned in the weekend report, some areas could be setting up.  Some setting up for a run higher, others setting up for a fall. To the charts...

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SPX - No follow through yet, but I am expecting higher prices soon.

SPX 5-23 Read More