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Originally Posted by coolhand

Yesterday, I said the market was due a pullback, but it may not be deep or last long. Today, we got a pullback and it wasn't deep, but whether there is more weakness remains to be seen.




The charts still look very bullish, though the S&P 500 still has overhead resistance at the September peak.



Breadth dipped, but remains bullish.

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Stocks exploded on Monday, which was kind of a surprise given the holiday-like atmosphere with the bond market and many banks closed on the day. I was expecting maybe a quiet, slightly bullish day, and I'm not sure what to make of it exactly. We didn't see huge internal numbers, and the VIX was actually positive, so the big rally was a little interesting, if not just impressive. The Dow gained 251-points and the Nasdaq had a huge day.

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