Market remains in up-trend but Congressional antics may cause some bumps; EEFT and CME

GMI6/6
GMI-27/8
T210861%

The GMI remians at 6 (of 6) and the Worden T2108 is in neutral territory, at 61%.   The QQQ short term up-trend is only 17 days old.   This up-trend may have a while to go. Last week was end-of-quarter window dressing when the mutual funds buy the winners so their portfolios look smart in their quarterly reports. Hence   a lot of the winners like TSLA and FB were strong.   This week there could be some retracement while we wait for the 3rd quarter earnings to be released. The markets could also be hit by the fighting going on in Congress.

GMI09272013

Meanwhile, here are some interesting charts to think about.   This weekly chart of EEFT shows that it is very close to a green line break-out and could be watched for a high volume push to new all-time highs next week.

EEFTweekly

CME also caught my attention.   It is far below its green line (around $143) but it may be gaining strength.   It is now above its 10 week average and is clearly in a Stage 2 up-trend.   It has been consolidating the past 14 weeks after a high volume advance.

CMEweekly

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