Path of least resistance was indeed up.. Finally we got the breakout across numerous instruments with it, therefore, looking a little more meaningful.. nas leading the way, close behind was the sp500 on the break and then finally the  dow/ym confirmed..

Here the sp500..

No crystal ball, just price..

Rich

p.s. The Michigan consumer sentiment survey was released on Friday. This is a large survey and therefore carries some weight with analysts. In fact, a can recall a few yr ago having a large short  position completely roll over on the basis of a stella positive Michigan survey coming to the rescue of the longs.  The longs here so strong even a disasterous Michigan survey wasn’t enough to take price lower in spite of the technical pattern suggesting a downwards bias. We can conclude the longs were totally in control at these levels therefore, relative strength.

 

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