BEARS ARE VOMITING UP THEIR SHORTS
S&P just blew through Friday's high...that was a vomit point for the bears.
Nasdaq 100 has yet to move through this point.
I'm surprised by how quickly the bulls were able to take the markets up to test this important point of resistance.
S&P suddenly leading the Nasdaq higher. A shift in leadership at such a juncture, with several important indicators flashing bearish confirmations, may be the equivalent of the lie detector starting to vacillate wildly on the arm of a compulsive liar. Bulls have every incentive to be lying here...I'm hesitant to trust the picture they are painting.
Bears have been caught off guard by this move, no doubt. You see it in the ferocity of the upmove...some real short seller panic taking place.
I will be updating the charts tonight.
