Market Update for Monday April 30 - 2012

As I said on my previous post, the markets on the 60 min chart had the Stochastic at overbought levels. That changed today at the end of the day and this could be the beginning of a new rally.
I had a position on TVIX that I sold at the end of the day today when I saw the Stochastic beginning to move higher on the 30 min chart.
As you can see from the chart below, the Stochastic on the 60 min chart of the NYSE is crossing higher. As I mentioned on my Weekend Report, all indicators say that a rally of multiple days is about to begin.