Hope you enjoyed your pullback today, it last all of an hour. This market keeps climbing and climbing. There is no reason to fight it. In fact today I didn't and enjoyed a dip and a stupid run-up at the EOD.
SPX hourly has broken its Small Rising wedge but has found support at 1000. Notice the larger longer-term trendline. Before any selling starts that trendline needs to break.
Here is the MEGA B chart, it is still showing a sign of a pullback NYDVN is flat on the green line and Decliners is at the yellow line. So this gives more value that if trendline breaks it should start a pullback. But be aware the pullback can be very shallow.
Another reason a pullback might occur is the stupid dollar. It managed to stay above the trendline today. But dont be fooled, it still made a lower low.
