The bulls did have a good day and finally got the SPX to break out of that trading range we have been stuck in for the last week and a half, though over-all internals were not very strong, with Breadth closing at 2.52:1, advancers on light volume, only 960M shares on the SPX.
Support now resides at 1269.62, the previous low labeled as wave 2 down, black, the SPX has no business down here unless a top of some sort has been put in, or the squiggle count is wrong. 1261 is strong support, and any break below here would be bearish, longer-term.
The Trend Finder II has had some changes today.
The FED has released its Tentative Outright Treasury Operation Schedule for the next month. Ben is keeping the gas pedal buried to the floor with purchases pretty much ever day thru mid-February. This is just sickening, watching the United States buying its own debt so Washington can keep spending money we don't have. BTW, the Dollar took a large hit today, down over 1%
Roy released a new mid-week video clip, where he is short-term bullish, he shows both the SPX and the DOW, you can view it by Clicking here!!!