What a difference a day makes. After some reassessment of ECB head Mario Draghi’s comment yesterday, the futures was way up and further boosted by a strong jobs number. Today’s rally pushed the short term trend up and the intermediate term continues to point to the upside. We are at an interesting juncture and very close to the 1400 to 1410 area on the S&P where the 10% correction started. We could either top out around here or grind through and push to new highs.