That was fast! SPX reached YR1 target today! From 1/3 daily comment: "Let's consider the big picture - SPX above JanP 2658, Q1P 2629, 1HP 2592 and YP 2537. Assuming JanR1 is not an important top, then we can aim for Q1R1 2738, 1HR1 2776 and YR1 2830. Reaching YR2 would take SPX to 2987."

Ding! VTI nearly reached YR1 as well, and normally reliable NYA closed above YR1! INDU/DIA and NDX/QQQ have a bit further to go, only because the wider range in 2017 meant they had further to travel to reach their resistance levels.

Today felt especially bullish for tech with QQQ leading, semiconductor SOX index recently above 2000 top, and today XBI blasting off above its 2015 high in a massive way.

Last fall as INDU and SPX approached YR2s, i thought there was decent case for pause and pullback. I was wrong about that, though it didn't cost me too much in terms of trading capital. When we look at the chart of DIA, there was not one day of selling. Indexes looked a bit different on the 3/1 top with clear resistance and rejection the next day.

With put-call at multi-year lows i have to be open to at least the possibility of a pause and/or pullback at these levels or maybe with DIA and QQQ reaching their YR1s. But right now doesn't seem like anything is stopping this move. Staying bullish.

SPX, SPY, VTI, NYA all below, plus XBI weekly.