It is starting to look like we have an every other day a different direction pattern taking shape. If that continues then tomorrow should be up. Breadth was -60%. New highs came in at 170.
The equally weighted version of SPX made it to a new all time high, but has not pulled very far away yet. It remains to be seen if the break out sticks or not.
The futures got above the 2168 resistance level again overnight, but failed to stay there. This has proved to be a tough nut to crack so far. The futures tested below the 20 SMA again today, but held. A good place to rally from.
The green count is holding steady so far. A cross back above 50 should signal a new leg up.
The FED meets on Wed. and the day before has been up most of the time in recent years. The alternating day pattern also suggests tomorrow should be up. Maybe the bulls will push through resistance this time.
Here are some interesting articles on the bond market.
US Credit Conditions Drop to Worst Level since Q3 2009, Markets Soar
Is “Crexit” the Next Crisis?
Why this Spike Will Perforate Yield Chasers
Bob
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