Breakout?

Fridays close did confirm a breakout to the upside after closing above old resistance. Although a small breakout it is still considered a bullish move.  However we will have to see what happens at these levels since the market has failed these levels in the recent past. Things to keep in mind include the 200 DMA which is at 1113 on the cash and the fact that we are short term overbought could bring a correction to the market. My daily CCT has now been equalized as the reading is at -2. This months action took under a month to correct the oversold condition that we had on the daily and this might be too much too fast.  We will have to see how strong this breakout move is if it continues.