No-Doze with Tum's Chaser $SPY $QQQ $IWM

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Sunny skies ahead indeed! And I hope you had your No-Doze in hand. Accumulation Day in volume-but not enough to think blow off rally. Tomorrow could be some digestion, but overall, any correction is a buy opportunity especially for those of you who were caught sleeping.

S&P 500 (SPY) When I write, "141.50 good area to clear to resume move up"..that's my way of giving you a buy recommendation. 146.99 is the 2008 high made in January that year. We should get there, but would not expect straight up. 145 interim resistance and 141.50 now support.

Russell 2000 (IWM) This took out 2008 high a while ago. 82.70 now support. Thursday high some resistance off the weekly chart.

Dow (DIA) 131.03 was the 2008 high. Now, still has to make good over the 2012 high 133.14 made in May. Otherwise, support at that 2008 high works as support level.

NASDAQ 100 (QQQ) The 2008 high was so 2011. Here, we are talking high January 2001 at 69.13 was take out so a new 11 year high! 68.50 now support.

ETFs:

XLF (Financials) Overbought just like that. 15.16 level now the support. Incidentally, although this reversed a 5 year down trend earlier this year, still real far to go to see 2008 levels. First we have to look at 2010 high 17.12.

IBB (Biotechnology) Love those inside day follow throughs. This has led all year.

SMH (Semiconductors) Crossed the 200 DMA for an unconfirmed phase change to accumulation provided 32.63 holds

XRT (Retail) Crossed 62.00 with a strong gap open and kept on going. Another leader since mid 2011.

IYT (Transportation) Made some movement up today, but underperformed the market. That means either this is waiting for oil to drop further and the higher lows made since early June are signs of a bigger base forming or, today was a day to look at as a run to resistance at the fast moving average.

IYR (Real Estate) Even if this did not do too much today, this has been another reason to keep bearish sentiment at bay this year

USO (US Oil Fund) Could be a key reversal which in turn is good for the US economy.

OIH (Oil Services) Took out 40.50 then closed beneath. 40.10 support otherwise, watch the 200 DMA.

XLE (Energy) Fared better. Now, 71.50 has to hold

TBT (Ultrashort Lehman 20+ Year Treasuries) 15.25 now support.