Thursday, April 2, 2009

Wow is all I can say

With the overnight futures probing the previous low, the bulls stepped in and really got the market going. A few pullbacks, another scare near the close, but this time the bulls stood firm and kept the market near its high on the close. Futures continue to rally this morning and it looks like there is more upside to come.

Now I may not have the degrees correct yet as that will come with more time. But what is clear that we need to put in at least another high before this rolls over. My minimum target would be c=a*1.382 which is at the 847 mark. We'll let the market dictate its high but I'll be watching for signs of a turn in that area.

1 comment:

  1. 847-850 zone has a ton of sequences from different time frames. Plus Trendlines as well. Should be a good resistance.
    Good job Rich!