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Wednesday, October 26, 2011



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Tommorrow will be interesting.   
The range is now between 1255 and 1297.
I have a feeling we will not give a lot of today's advance back tomorrow, but I'm thinking 1255 would make a good target 
1222.25 is still where I see the Bears firmly taking control.  At that point 1170 would become my next target.

I have been Bullish but today looks like a burn out even though volume was not excessive.  An increase in volume with a long wick would really look good for the Bears tomorrow.

No sign of weakness yet, BUT...  I feel like I should step out in front of this train.


Looks like this move is running out of steam. But confirmation of a reversal is a long ways down on both the fork and the channel.

I expect a  move back down to 1254 today with some support at 1261 
09:04 ET
Coming into resistance and the 200 DMA, but 1294.50 is possible.
00:08 ET
Yes!  Have faith my friends.  This market is going UP

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