Technically, both the Nasdaq and S&P are still under key resistance but look to be forming very bullish flag patterns here and that is exactly what I had hoped would happen this week. Ideally, the next two days would be quiet (and they may be due to Rosh Hashanah) with slightly lower prices. I would love for the market to be slightly oversold short-term going into next week - I think it greatly increases the chances of a true, more intermediate-term move higher occurring. Support levels from yesterday haven't really changed - Tuesday's lows are now the closest support but a pullback lower would not necessarily be a bad thing.
Charts from Telechart, Courtesy of Worden Brothers, Inc.
I am still in cash but am looking closely at long candidates as the market is painting an overall bullish picture. If tomorrow is slow, I may wait, but depending on the stock, I may look to put a few positions on at the end of either of the next two days. After putting three posts together yesterday, I don't have much else to say right now - things looks good overall - so I will end here. Take care and good luck Thursday.