Ed Note: Two different market approaches arrive at the same conclusion.
From Dennis Gartman:
From Brooke Thackray:
The S&P 500 has broken through its last resistance level as illustrated in the last Thackray Market Letter. It currently sits just below the next resistance level of 1200 with further resistance at 1250. With current strong seasonal trends in place the S&P 500 has a good chance of breaking through 1200. Caution should be exercised if there is a break- through and the market pulls back down below 1200 as the strong six month cycle ﬁnishes at the beginning of May.