Observations

Just some observations (no charts)

Bullish for Equities:
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1. Dow made a higher high
2. Breadth was very strong
3. DX made a new low

Bearish for Equities:
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1. Russell, which lead rally down, has not participated very much
2. Light volume
3. USDX only went lower by $0.01. I have a count that shows a valid completion. Could be a double bottom?
4. VIX has not made a lower low. In fact it bounced of the 16 year trendline (see my last post or any of my other VIX posts).
5. Finanicals have completed a the necessary minimum retrace on *very* low volume.

Please feel free to add points for both the bull and bear cases.