As discussed on 17th of May, OT was of the opinion to start buying longs and add when we reach the 50% retracement levels. The SPX has indeed reached the 50% retracement level ( Nov 11 low - April 12 high ) at 1291 and we rallied strong since.
Below Daily Charts suggest that we have found an intermediate bottom and P5 is upon us leading us to new highs within 2012 / early 2013
As for the Dow Jones below, the 12250 area was mention in an earlier article as "obvious support"
The SPX reached the discussed 1321 and went even to 50% retracement level mentioned on 17th May
The NDX performed well to reaching the discussed area
Russell 2000 being the leader in last down turn should be also the leader in upcoming intermediate rally ahead.
The charts look very promising for prudent traders with an intermediate view. OT ETFs SSO , QLD, UWM etc engaged since 17th May and added at 50% retracement remain in intermediate portfolio with view to gain in weeks ahead.
Needless to say that miners rallied strong so far and we shall see even more stronger rally days ahead in coming months