A lot has happened since the first "Ringing the bell" post on 9/30. Of course it is now obvious that the market has made a big turn, but it wasn't on 9/30 - unless you were looking at the big pivots SPX 2HS2, NDX 2HS1, Dow YS1 and IWM YS1. These all recovered on 9/30, held 10/1, then launched 10/2. Since then the market has powered through a lot of resistance for one of the best rallies in months.

Just a little over one week later, SPX has recovered YP 1963 / SPY 197.40; today NDX is just slightly above 2HP / QQQ 105.86, though perhaps not convincingly; DIA still is below the longer term YP / HP but at least above medium term Q4P and OctP; lastly IWM recovered YP today at 114.85 which is a big score considering this is the only main index that made a lower low in September compared to August.

On the same day, TLT rejected 2HP and broke both Q4P and OctP for a major bearish status change as well.

While many moving average buyers bought some as D20s cleared on 10/2 then added later this week as D50s cleared, pivot buyers were adding partial longs 9/30 & 10/1, then loaded up the boat on 10/2 and now have an easy ride. Usually pivot signals are sooner than moving averages for both entry and exit.

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