The market reversed right when it needed to. On Thursday morning the NDX broke below the 4150 level that I discussed in the last post, reaching 4133 just after 10:00 AM, but then it reversed higher and closed at 4272! I am hoping that 4133 was the bottom. A good sign for the U.S. markets is that they were able to rally on their own initiative – overseas markets mostly closed negative. Hopefully they will take cues from the U.S. in their next trading session and move higher as well. That would also help establish a new uptrend for the U.S.