As we speak, the DIA is trading above its prior recovery rally peak at 110.59, which should trigger additional strength that tests the June 21 recovery peak at 111.25.
 
The QQQQ's have followed through to the upside off of yesterday's pivot low at 37.38 into the 38.00/20 area, which is the heart of near-term resistance between 38.10 and 38.40, which has to be hurdled to trigger acceleration to more important resistance at 39.00. A hurdle of 39.00 will be considered very constructive and will trigger a new upside target of 40.30/60. At this juncture, only a break of yeserday's low at 37.38 will wreck the improving technical conditions and chart pattern in the Q's.
 
After some rough going yesterday, the TLT's have turned up again in what my technical work argues is a significant secondary pullback low in the low 83.00 area, ahead of a potent recovery upleg that should revisit the June 13 rally peak near 86.00

Finally, let's take a look a my updated big picture chart analytics of the PPH (Pharmaceutical ETF).

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.