Rally On!

After spending the last week consolidating some of the recent gains, the market resume it move to higher high. Today, broad market participation help pushed the SP500 through the 1150 level and closed at 1160.75, and the DJIA closed at 10944.70 after it has come near the 11,000 level. More importantly, the Russell 2000 along with the DJ Transportation index finally join the rally by breaking above their June/July high today.

To be honest, today's move did catch me a bit off guard. I was expecting this rally to resume after additional pull back. But the market don't care what I expect, it move when it is ready to move. I am not one of those that trying to be right in calling the market, I'm just trying to be on the right side of the trade to make some money from the market. So when the market say "Rally on!" I'm in.

A lot of market participants are still skeptical of this rally. When the SP500 explode passed the 1170 level, these skeptics will rush in to catch this moving train. The price actions are saying this market is moving higher, don't let those nay-sayers deter you from trading this rally. October will be October, and I will long this market until the price actions tell me its time to take the money and run. Of course, always manage the risk. So rally on!

SP500:



Nasdaq 100:



DJIA:



DJ Trans:



Russell 2000: