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Friday, June 13, 2014


The 1958 target was approached.  Close enough anyhow.  Now the question is - was that the capitulation and is the major trend changing direction?

First observation is that it did not look like a euphoric all in capitulation.  Second is that 1900 will offer a strong support.

This chart shows where I would expect the market to trade for a while.  Preferably in the Cyan area and possibly dipping to the 1900 area.  I think there is going to be one more run at the 1958 target, but should the price fall through the support at 1900 range, it will most likely indicate this long bull market has shifted.

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