Wow! SPY and DIA green for the year! Who would have thought?

I certainly didn't, not even when recommending a buy a DIA buy and a possible buy on oil, both on 2/12. Or when suggesting RSX, EWZ and EEM just after that. I did say shuffle the bounce scenario back to bearish a few days after, but went with the bounce again with another move above the FebPs on 2/24-25.

See, pivots keep my "bias" from being on the wrong side of the market. Again I thought we would see some reaction down from larger levels, but it only lasted 1-3 days depending on the index. Again even if you tried a small short for that reason with ES looking like rejection, you knew to quickly cut or add longs via DIA the next day to balance it out.

Also, SOXX was the first thing I saw to reclaim a longer term level, and I mentioned that on 3/1 and well as pointing out day after day last week that DIA was holding its YP and that was bullish. From last week, if trying any shorts to see if the big levels rejected (ie what I mentioned in the weekly strategy and FOMC simplified, SPX 2014-16 and NDX 4373) then 2 of the 4 mentioned, IWM and IBB, actually had chance for small gains while DIA and SPY continued their melt up.

This is a pretty good strategy!

Anyway, I think indexes back above D200MAs and positive for the year puts pressure on fund managers. Even though DIA is fully overbought and reached our first target above the Q1P level, usually after a move like this the first dip is bought.

SPY ideally sees its MarR1, the level that DIA reached today. Both charts below. Red line is 2015 close.