Yesterday I said that 1170 would be taken out today, and it was. The last hour was also very bullish action. All indices made new highs, so there is confirmation. Internals and volume were the only things not pointing to bullishness. However, we are overbought on nearly all time frames.
Short term, the trend continues to be up. There are no signs of weakness. Closing at our highs today adds to this theory.
1180 is the next pivot.
I also have an alternate count on the Nasdaq. It is slightly more bullish than my first count.
Instead of this being a wave C up, the Nasdaq count suggests that this is a wave [v] of 5 up. Either way, both wave counts suggest more upside. Here is the same count on the SPX daily:
On the daily time frames, there are some mixed signals.
The RSI is diverging and is overbought, but the MACD is pointing straight up. We'll see what happens.
Nothing on the bearish case, except now we have to break below 1170 and 1150.
Apple also continued it's up move today, as expected.
The target is still around 230.
Google continued to go down today, we seem to be in a Minuette wave (iii).
Expect Google to continue down.
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