Monday, October 25, 2010

Bullish Market

I underestimated the strength of this market when I stated that we'd be in chop mode from 1156 to 1182.  With higher highs and higher lows after hitting 1156, it is not a top formation but a continuation of the uptrend.  The dollar has resumed its downtrend and last week was just another mini-scare before going to higher ground.  Today, I don't expect a big up day but I do expect us to be trading close to 1200 later this week.  Still no rush to short.

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