The Swing System remains as we left it, equities, commodities and Treasuries are on LONG/BUY signals and the Dollar remains short.
As I noted before I left town on Friday, the 30 min chart had signaled a preliminary buy signal. This is a near term signal of course and shortly after my post, the market did rally. We’ll see if the next wave is on early this week or whether there will be another small pullback to complete the correction. But, it appears the intermediate term things look bullish and there should be more meat on the bone of this rally.The daily chart for the SPX below shows the big picture view and the 2 leading counts. While I favor the bullish count that primary wave  of Cycle 3 is underway, there is a chance that this rally is a strong (B) wave rally of primary wave  that will soon be followed by a (C) leg down to the lower blue trend line.