Market view

Wow ! Markets did an extremely nice rally yesterday sqwiiiiiiizing out lots of shorties with a 3.5% rally!!

My EDC swing trade in big green yesterday 3 x emerging markets bull from 11.75$ went up 12-13% yesterday which gavem e some huge gains.

Markets keeps going up like crazy since my bottom call of 2011 at 1078's and after 1 week we are more than 100 SPX points higher near 1200 SPX.

The important thing I wanna tell you about is that indexes broke above and closed above the MA(50) for the first time since july/august which is BULLISH , at 1175.

The VIX for the FIRST TIME since July/August closed BELOW its MA(50) on daily chart too - which suggest that a new trend up might be starting.

Honestly I did not expect such a big rally , but as long I have buy signals and markets looking good I keep holding my long positions....

There is a very good chance we see a pullback and good red day soon as markets is short term very overbought - so a pullback soon would be healthy.

The weekly charts still looks fnatastic imo suggesting more upside is comming.

We broke above a trendline too from the highs in August which is also very bullish imo.

We have a potential pattern target of SPX 1265 as we maybe broke a neckline at 1170 yesterday just to keep in mind.

Conclusion:

Not much to say other than BIG PROFITS MADE for those who got long with me SPX 1078-1080 and EDC 11.75$ swing trade - which is now 16+ 30% made on swing trade already....

Still many good looking small caps I'm long - and the thing is , bulls are in FULL CONTROL as long we stay above 1170 on SPX - no reason at all to get bearish imo

I will be on vacation from after this weekend until mid next week - just telling everyone no updates for 1-3 days next week. If you have made money on this rally I hope you would like to make a donation as this helped you out getting long markets in the right time and not missed a 7-8% rally which many people missed completley.

Remember you can follow me on twitter Sqwii or join www.nwatrading.com where we have made a killing last many months , up and down. We do swing trades/daytrades and investments too.

Hope you enjoy reading the blog and it helps you out trading.