There's the bounce off the 50 day moving average...and it was a big one.
As usual, volume is a trickle and the TICK is actually negative but the markets are always ready with a new twist.
Surprisingly, the VIX (volatility index) has only dropped 1.5% today. Bullish moves of this order typically are accompanied by VIX moves of at least 5-7% so we may suspect some undercurrent of caution being exercised.
XLF and XLK (Financials and Tech) are the top sector movers today...a pairing that we have relied on in the past to signal bullish intentions.
The NYAD (advance decline line) has been downslope since the open but is now leveling off at a bullish 2.6 (0 is neutral, equal advancers and decliners).
For now, the T2 X remains in cash per the 4 month P6 and RSQ readings.