Discussion of the power in the markets is varied. The Bears are still expecting the bottom to fall. The Bulls say the recovery is real. I just like watching price. Because Price Pays, Right? The current technical behaviour of the markets in general is rather fascinating to me. Prices in many arenas are trading along technical lines (in my view) obviously bouyed by M2 expansion (for direction and strength) and massive HFT/Institutions influence. Watching and Learning.
The longer term trend indicated originates with the March lows, while the shorter term trend is the recent rally starting in July. Springheel_Jack (a very talented and respected technician) is looking for equities to break either way. My view is similar. Watching and Learning.