Breaking away…

0715indu

 

http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=0&dy=0&id=p90213512304

Not much debateable here.   All the indices are breaking to new highs.

0715spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p46911828355

The spx, similarly, breaking away.

0715qqq

 

http://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=1&mn=0&dy=0&id=p58769923697

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p46911828355

And the qs.  Everywhere you look there are buying signals.  We are in.

What does it mean?  Well one thing it means is illuminated by the PnF chart:

 

 

 

0715spxpnf

 

http://stockcharts.com/freecharts/pnf.php?c=%24SPX,PWTADANRBO[PA][D][F1!3!!!2!20]

which looks for a target of 2489 in the SPX.

Leave a Reply