ANOTHER UPLEG BEGINS?

I went to a 4 month chart view here of the dow industrials and mlps and you can see very clearly the scope of this uptrend and what has happened every time we have come down to the 34 day moving average. Now i am going to put out a small warning flag here. It may or may not mean anything but so far the trend is holding. We need to decisively take out 10,200 on the dow and keep on going. So the real test will come on this rally that began yesterday. The trade remains in tact as far as buying these corrections. On the positive side (and you can see this better on the S&P 500 chart)

There was a spike in volume on Wednesday when the market fell. Yesterday we got it all back and more which suggests Wednesday was signficant technical reversal day. Watch that level on the downside down the road. Looking for some followthrough today or at least nothing worse than sideways.

Okay MLPS this morning seeing some upgrades as Citigroup upgrades Williams (WPZ) to buy from hold. Steifel Nicholas starts both Nustar (NS) and Energy Transfer Partners (ETP) at a buy. No news developlements. Stock futures are softer ahead of the open as is the energy complex except for nat gas which is higher.