THE NUMBERS

Markets were pretty good yesterday and the only question is if its a one day wonder or the start of something meaningful for the bulls.

Checking the charts, the SPX looks pretty good up until the 1290 area where selling appeared - also happens to be the 23.6% retracement area.

Crude - could see a bounce near the $132 area which is the 38.2% retracement area;

DIG - looks like a very good set up with a stop under yesterdays low- ditto for XLE and OIH;

VIX- has dropped under the SMA 10 after spiking yesterday to the 26 level-

TRIN- surprisingly the TRIN has been below the 1.00 level on 5 o of the last 7 trading days- not very bullish;

Bottom line - this rally probably has some legs but I wouldn't get excited about SPX 1575 any time real soon as there is a ton of over head resistance beginning near the 1290 level.