The US Majors

The Standard & Poor’s rose for the first time this year after slumping for three straight days, its worst start to a year since 2005.
I can count 5 wave up ending @ 1867.3 with the break out from the rising trend line  Guppy moving average indicating a string trend up. with no real sign of letting up yet.
The Standard & Poor’s 500 index gained 11.11 points, or 0.6 percent, to 1,837.88.

With the S&P 500 , rising 0.61 percent to 1837.88 as investors showed confidence in this Friday’s job report and fourth-quarter earnings beginning to be announced,traders took profits in the wake of 2013's rally that drove the benchmark index up nearly 30 percent.

Last year, the U.S. stock market reached all-time highs and saw its biggest percentage gains since 1997, but the first three trading days of 2014 saw some downward movement in stock prices on the S&P 500.

Daily 

A sharp decline in the U.S. trade deficit and upbeat German data helped improve market sentiment as the data pointed to strengthening economic fundamentals in both the United States and Europe.

"One way or the other, (the data) is all pointing to the story about how it might still be tough, but things are starting to point to better days ahead," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York.

hrly 

Dow Jones 

Dow Jones Daily
 From Novembers Peak in 2013 the  Dow Jones has continued to rally to new highs following our analysis  we can count 5 of v waves up starting from December 20012 the again from July 2013 ending near 1685 and with tapering on the card and the possible tapering in government QE the trend could be in its final leg.
 This could end any time from now and once it starts to turn we could be in for an important top being formed. Although conformation of the turn we be needed with the development of a 5 wave decline on the daily chart of break of near support would provide solid evidence that a top has been formed and we shall look for this i the near future around these prices.

The amazing performance the Dow Jones has put in is a wonder to look at and will go down in history while the T-note yields has jumped 78% and bonds fell. with optimism towards stocks and the economy is running high across the board, With the raging bulls flying high with the bears no where to be seen. This could prove costly as we start 2014.

As of today the Dow has been lifted by  health care stocks on Tuesday 7/01/2014. United Health Group, the nation’s biggest health insurer, and Johnson & Johnson both rose after analyst’s raised their recommendations on the stocks. 

It rose 105.84 points or 0.64 percent, to end at 16,530.94. The S&P 500 gained 11.11 points or 0.61 percent, to finish at 1,837.88. The Nasdaq Composite added 39.501 points or 0.96 percent, to close at 4,153.182.

08/012014