The rally continued on the indices last week with additional 50 CCI long side triggers on the daily charts. We're still facing considerable resistance on the weekly charts including price levels, timing for possible weekly swing highs, and the 50 CCI zero lines. However this is the first time that we've seen significant daily resistance breaks before testing weekly resistance since the start of the decline. The combination of these factors suggests more upside in store, but also the potential for a rocky path until we clear the current weekly price and time resistance. Of course there's always the possibility that this resistance will overpower the daily price pattern, so on any deeper pullbacks we'll look to the daily support levels (particularly those in bold) for a hold or break. As with last week, support holds may set us up for additional long side triggers.

Weekly S&P resistance:

Versus daily support:

Weekly Dow cash resistance:

Versus daily Dow cash support:

Weekly Nasdaq resistance:

Versus daily Nasdaq support:

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