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The Big Picture Charts Look Positive

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According to these DeMark charts, the bull market that began in 2009 is still not ready to quit.

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Russell 2000 Index (INDEXRUSSELL:RUT)





The weekly chart completed a TD Combo Countdown Sell seven weeks ago and printed a "Price Flip" three weeks later. The price flip also completed a TD Megaphone Sell 7 pattern. With the monthly chart on bar 8 of a TD Sell Setup, I would not be too aggressive on the long side.

Nasdaq-100 Index (INDEXNASDAQ:NDX), (NASDAQ:QQQ)



Come Wednesday the monthly chart will complete a TD Combo Countdown Sell. However, a qualified TD Prop Exhaustion Up target of 2991.57 has not been reached and remains as an upward magnet. With the weekly chart neutral and so much of the index tied to an Apple (NASDAQ:AAPL) stock that refused to crater following an awful quarter, I'm not tempted to get too aggressive on the downside.
Positions in SPX NDX IBB and selected energy names.
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