“I am waiting for a pullback”. “Markets are extended.” “The debt ceiling situation is worrying me.” I can go on and on but if I had a dime for every time I have heard one of these arguments recently, as valid as they are, I would not be writing these reports every night. One thing most are not speaking about is PRICE action, and how it fails to go lower, and of course this could break down at any moment, but the fact that technology is now moving above some tight sideways digestion after a nice push near the very round 10000 number in January must be respected. The Nasdaq is higher by almost 2% this week heading into Thursday and that is after the prior 3 weeks all CLOSED very taut with just 58 handles of each other. We know that type of coiling action could lead to explosive moves once the breakout occurs. And I have always said rivalries in or outside markets is a good thing. It makes both better as they strive for attention. Well that is what is going on inside technology with both semis and software doing their thing. For a long time it was semis having to carry the load. That is not the case anymore and this could be a very potent 1-2 punch. Window dressing is right around the corner at the end of Q2 for some of these mega caps as hedge funds have been piling in as seen from recent 13Fs. Those that did not are feeling the pain.