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Originally Posted by coolhand

It would be nice to have warnings before "they" decide to whack the market, but we don't get warnings (unless you include the ones we see every single day for years on end). Those are really helpful, aren't they? There's always those who are warning us of dire consequences and those who are telling us the exact opposite. That's the battle between bulls and bears (that's actually a superficial reference, but I don't want to go there).

Of course, if you're an insider (which we aren't)...

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]Stocks opened higher on Wednesday and gained momentum throughout the day. It was more of a Bizarro day with the normal winners lagging and the broader market pressing higher. The Dow gained a whopping 455-points, and that was with Apple having a rare bad day. The Nasdaq and small caps were lagging and negative for much of the morning before everything turned higher in the afternoon.

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Originally Posted by coolhand

The S&P 500 has really come alive the past month or so. The index gapped higher and closed for a significant gain near the high of the day. The DWCPF was not as impressive, but it did manage a moderate gain.




What can I say about these charts that I haven't already said. They are overbought, but also bullish with no overhead resistance.



Breadth

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Stocks opened flat on Tuesday but the bulls quickly took over once again and we saw a broad rally into the close, with fairly strong breadth pushing most of the indices higher on the first trading day of September. Volume was lighter than average and typical of this time of year, and it may get lighter as the week goes on, barring any major news events. The Dow gains 216-points with the Nasdaq leading the way once again. Bonds rallied and the I fund lagged after a rally in the dollar.
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Originally Posted by coolhand

Overbought got more overbought today, but who cares? Breadth isn't making new highs either, but who cares?

Price is rising and ultimately that's what we care about.




There is no overhead resistance on either chart.



Breadth remains bullish, but tracking sideways.

With NAAIM heavily bulled up, this rally could have

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