For the second time in two weeks, the markets looked as if they were due for a pullback or at least a pause, then buyers came in and the loger term uptrend re-exerted its strength. The saying that “news and surprises tend to follow the direction of the primary trend” comes to mind with this action and it reminds us, once again, of why it is dangerous to fight those longer term trends. The video below (courtesy of RealTick) takes a look at key technical levels for $SPY $QQQ $IWM $XLF $SMH.