Over the past week all of my core market health indicators improved. None of them improved enough to change any portfolio allocations.

One thing that is still concerning is that technology isn’t participating strongly in this rally. I’d like to see the ratio between NDX and SPX break above its 20 week moving average as a sign the rally has legs. Some consolidation here then a resumption of the rally that is led by financials and technology would be a very healthy sign of a big run ahead.