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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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S&P 500 (INDEXSP:.INX)





The monthly chart is about to complete simultaneous TD Sell Setup and TD Combo Countdown Sell counts. That spells major buying exhaustion and as you can see in the chart, price has had a tendency to respond to these signals. The weekly chart shows an 11 on the TD Combo Countdown Sell and a satisfied qualified TD Prop Exhaustion Up target of 1592.20. This argues for sideways at best, but more likely a tradable correction.

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Positions in SPX NDX IBB and selected energy names.
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