The market certainly woke up from yesterday’s slumber. The better than expected ISM report, which was released at 10:00, really got things moving. The indices powered higher, ripping through the highs set on Monday. We got a huge surge of buying just after 3:00. I think that was caused by some bears capitulating, and panicking to buy back the shares they shorted. Seems like there’s no stopping this advance, as money continues to pour into stocks. The Dow closed above 9,000 for the first time since last August.

Here’s the weekly chart of the Dow. It’s built a nice base, as have the other indices. They all look primed to burst higher.

Here’s the daily chart of the NASDAQ, which is now up 10% in the last 10 trading days.