MMCLUB

[denmo83]

Yes, I do...

So far, so good. No changes today as I'm still 100% long. The lower volume today was a concern and as the denmo6 remains on the sell, I'm in this current trade with one foot firmly out the door.

A couple of scenarios are:

That we pullback on light volume. That would be ok for the bulls. Further advance on heavier volume would also be ok for the bulls.

Further advance on light volume would have the bears drooling and a drop on very heavy volume would have me exiting the trade.

Tomorrow's volume should hold the key.

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The top of the Nasdaq down trend channel comes in at about 2040ish, which leaves us with plenty of more upside from today's 1976 close.

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A quick look at the S&P500 fibonacci retracement levels show that we re-traced exactly 38.2% of the move down. That means we may resume the down trend. If we continue higher, the next target would be the 50% retracement which falls in at 1133:

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[h,a]jaclyiay[d15][p][vc60][j13015407,y]&l...