Dawn of new Bull Market?

Just kidding, but we are close...just a little more confirmation is required before declaring a bull market.   However, just by looking at Russell 2000's action over the past month, there is no doubt that the market wants higher prices.  In hindsight, the correction on 2/5 was as deep as we're going to see, bouncing off the 200 EMA with enormous volume by BIG MONEY.  If this correction was to dip twice (first being 2/5), then the SPX should not have held the 20 EMA for 3 consecutive days from 2/23 to 2/25.  That was sign to GET OUT of shorts and stay cash or go back to long positions.  I am optimistic that 1,150 will be broken by the end of March, followed by a period of consolidation and retest of 20 EMA at least once between now and the end of April.  That retest of the 20 EMA will be the next buy point to enter 50 or 33% of position to see if it holds.  If it doesn't hold, I'd expect more fakeouts below the 50 EMA to suck in more bears, in which case the 200 EMA will stand as the next logical buy point.