What a win for bulls. Tech (QQQ SMH XBI) and with 2018 leaders EWZ and RSX continue to power up, though KWEB was a notable disappointment. If you came into the week prepared to be aggressively long tech per Total market view then you already had a big score.

QQQ back to YR1 as fast or faster than the drop. No sign of hesitation so far so I'm thinking clear in the near future. Plus, lots of NQ shorts that others have to cover!

VIX fell back under YR1 slightly.

Extra bullish scenario is NDX / QQQ decently above YR1 and VIX clearly below YR1. We'll see what happens.

SPY, QQQ and VIX below.

PS: Index that is near top of the charts in 2018 and made the best new high compared to late January highs? RSX or if you like the iShares version that is ERUS.