*the monthly cycles have now flipped to outright bullish for the SP'500 and Dow'30. There are still two trading days left of the month, but..its looking like we'll close outright bullish.
Only the Rus'2000 small cap and the Transports are still suggestive of mid-term weakness.
As things are, the entire bearish outlook will need to be thrown out next Tuesday.
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The closing hourly index charts...
IWM
Dow
SP
Summary
Very little needs to be added. We all know how sick and stupid this is..yet we ARE closing with the weekly cycles at what are now borderline outright bullish.
If we're still at these levels by the Tuesday close..then its all over for the bears, and all those touting sp'1500/1600 by year end..can start to smile.