Breakout

The S&P has had a strong breakout overnight following good news from Europe and Asia. We will see if it can hold during the U.S. session today which would add credibility to the move. The daily CCT is at +214 for the short term and could get a lot higher if this breakout attracts institutions to start buying which would bring more buy programs to this market that could propel us to another leg up. I think the key today is to watch the TICK to see what players are in this market.