The major move off the 666 (yikes) level that we've seen looks like the real deal to me. It's not where I wanted to see it happen or when, but that's just too bad for me. The market does what it wants to do. It doesn't answer to anyone, including me (or my wife...sorry honey).

I not sure how high this thing may go from here, but it could move higher and last longer than most expect. We'll have to play it by ear.

It's going to be dicey trying to short anything for a while. Instead I'd buy weakness. Any move back to 740 would be a good spot.

The reason or reasons for this move are irrelevant. The bottom line is that it appears to be real, very real. The volume and breadth can't be ignored. It appears the trend has changed, and it hasn't done that in a long time.

Only a complete reversal beginning tomorrow could derail this new move, but I'm not holding my breath. It would take a breakdown below 740 to get me to sit up in my chair and a break below 700 to get me to question my sanity. If this move reverses then I can promise you one thing...all bets will be off. Maybe that's what the worst bear market in modern history has in mind. 

Remember not to care the direction, just care to get it right. That's easy to forget at a trend change.