Major Indexes

SPY  This steep sell off today followed by buying interest; closing back above the open price and key pivot points (intial resistance) telling me this up trend is well in tact and that stocks likely continue higher.

Tech stocks continue to lead. Other important indexes (see chart updates just below) this week showing good evidence of increased strength and are likely to bring more stocks higher, creating broader strength in the overall markets.  I expect we continue higher.

DIA A strong move for the DOW Friday. This bullish gap up, closing back above the 10, 20 and 50 day moving averages is telling. Well worth noting is the increased volume.

IWM This bullish gap up today on small caps; pushing back above the 200 day moving average is telling me this could now start to turn into a more broad based rally. Indicating that stocks/market could now continue higher. I’m thinking it’s likely.

This shot taken live during market hours.  See EOD chart update just below

IWM EOD Chart update  A strong move indeed, with nice continuation on increased volume. Expecting higher.

Solid move today on indexes (across the board) including ARKK, which closed back above the 200 day moving average. Continuation higher (likely)

QQQ Inside day (on lower volume) We saw similar action last week, just before going higher (on increased volume)

IWM Small caps beginning to show more signs of strength, closing above resistance. I’m thinking that considering the overall action in the markets, these likely continue higher.

Island Reversal (setup) Confirmed