Ombow, I'm figuring the main indices will put in new highs in the period ahead (except Russell small caps). The Fed/PPT need to make the high convincing, so figure at least 3000-3100 for the S+P. My hypothesis is that the Fed/PPT will engineer a new high, but after that is anyone's guess.
The Russell (RUT) could be useful to watch since small caps are a measure of investor's appetite for risk as well as a gauge of the strength of the domestic US economy. The big multinational companies in the larger indices get a lot of their earnings overseas, whereas small caps tend to be mostly domestic. If the Russell starts tanking, that could be a harbinger of trouble ahead. It's already lagging the other indices considerably. The RUT needs to break out of its sideways holding pattern and work its way above 1600 (currently 1560).
The LWLG chart is starting to look somewhat better. So far it's held above the 200/50 MA support, and today's action looked promising. Some follow through to the upside would be a good sign.
Btw, I see SNES got to 1.58 intraday. I'm figuring it could work its way up to 2.00 in the period ahead, albeit with some back/filling along the way. I know you don't like them much, but it appears they've turned the corner in their business.
