The DOW was rejected by the upper trend line of the channel and ended the week with a Spinning Top.  This could be just a short term pullback  and then a move back up forming a J Hook pattern.  However,  we may have a little more to the downside before continuing higher.  The predominate trend continues up.  Watch for the breakout above 10,438.  If the Spinning Top (very close to a doji) does halt the move down, we could go sideway briefly before going up.  However, it is clear to me that the bullish move is still in tact.

The SPX has a similar story as the DOW.  We have been trading in a box for the last two weeks.  Look for a break out of the box.  I feel we will test the lower trend line before resuming the trek higher.

The COMPQ has been the leader all the way up from the March lows and I see less downside potential here.  I feel that we will form a J Hook chart pattern and then break above the recent high of 3525 and continue higher into the end of the year. 

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