Per David Elliott :

The market made the expected positive move for the SP-500 and QQQQ, with the DJ-30 closing down just 17 points.
It was mostly a quiet choppy day for the day traders.

I am still very short term, tentative, bullish. As I believe we are in a wave two bounce from the market top we saw 2-3 weeks ago.

Another plus side factor was the DJ-20 transports 5% up move today. One of the biggest up moves in recent history thanks to Warren Buffett’s purchase of the BNI railroad.
This up move in the Transports should continue to the 50 day moving average.

The SOAP sell on the VIX suggests we still have some market upside.
Wednesday the DJ-30 has daily resistance is up at 9900, with intra day resistances at 9795 and 9822. Our parachute is on any large break of the DJ-30’s 50 SMA at 9729 of a drop -50 to -100 points.
For the SP-500 we see a daily resistance at 1053, with intra day resistances on the way up at 1051.
For the QQQQ we see daily resistance at 41.60.
Wednesday we also get the Fed Notes/reports at 2:15 PM EST. This could have dramatic effects on the financial markets as usual. At some point the Fed will raise rates from the `o’ rates.

I am looking for GS to go to $172.72 from our low call of $166.00 intra day this week.
And the BKX moving up to the $44.25 area.
GOOG suggests a $540 move.