The Summation Index is flashing bullish signals and if tomorrow prints a third black bar that continues to accelerate upwards it will confirm a new trend is underway!!!!
Breadth and volume numbers were much weaker today with breadth closing at 2.39:1, and buy volume accounting for 83% of the total volume.
With tomorrow being the Friday before a major three day holiday week-end volume should be very low as what traders are not already enjoying a vacation bail-out of the offices to get an early start for the extended week-end. This scenario could push the market in two distinct ways, very large moves on little volume(exciting), or just a plain flat day in a tight trading range(boring). I am voting for the boring option!!!
The trend continues to be short-term bullish with the next confirmation at the old high of 1100.14, and the Trend Finder is showing 75% bullish after changing earlier this morning.