4/14/2016

OK sure, small change doji-like bar may get the top callers going. But like I wrote yesterday, and for that matter regarding the 4/1 area high, we should see multiple indexes at pivot resistance for a significant top. That isn't the case here, as all 5 main USA indexes and their variations are not near even monthly resistance.

The only reason to change back bearish would be a drop back under the NYA YP. Until that happens, USA indexes look great. The last 2 trading days are the only days since very early 2016 with 4 of 5 USA main indexes above their YPs. INDU and SPX led by convincingly clearing 3/11 and 3/16 respectively; NDX followed on 3/16 as well, but it took COMPQ to 3/30; and NYA until 4/13.