Short (3-day) retracement on the S&P 500 would indicate a strong trend. Follow-through above 1850 would confirm the target of 1910*. Rising 21-day Twiggs Money Flow highlights medium-term buying pressure.
* Target calculation: 1810 + ( 1810 – 1710 ) = 1910
CBOE Volatility Index (VIX) readings below 20 continue to indicate a bull market.
The Nasdaq 100 continues its accelerating up-trend, with rising Twiggs Money Flow troughs above the zero line indicating strong buying pressure. The last decent correction was in June 2013 and continuation of the advance much further without another correction of at least 2 to 3 weeks would suggest the market is becoming over-extended.