The Stock Indices traded higher today, confirming the possibility of a three-step countertrend move. Resistance in the SPY is in the 390 area and in the QQQ in the 290 area. The market is extremely overbought right now but closed at the highs. This suggests a follow-through tomorrow. However, be cautious if breadth is weaker than today. It can suggest a false breakout and rotation back down. Volume was extremely low today.