The SP500 closed higher by over 36 points. The MACD is pointed up – bullish – but is in overbought territory. The 8MA is pointed up - bullish. Channel resistance is clearly broken. As said many times before, the US Dollar remains the key – a higher US Dollar (supported by a falling Euro) will continue to help send these markets, indexes and commodities to the downside. To see an up move like this at the end of a four year bull run is usually an indication of a very emotional market – another way of saying that the market is trying to pull in every last buyer it can before turning down.