The S&P 500 ragains its 50-day moving average.

Our bias turned Bullish yesterday as the Nasdaq and Russell 2k put in Follow Through Days. This tells us institutions are willing to sponsor the market.

All we can say is this is a better environment for longs than it is for shorts.

At the end of the week we will have a better grip on how Leadership is stacking up. No rally is worth much without the baking of its leaders.