Tuesday, June 19, 2012
Getting In
Those on the sidelines are starting to get off. The early birds got the worm, but we're still in the middle innings of this move. Time wise, not price wise. We are not going to 1400 on this upleg. Most of the price gains have been made, but it doesn't mean we go right back down. We should stay above ES 1325 and make our way towards 1360 eventually. This rally likely has at least another 2-3 weeks left in it, most of it should be consolidation between 1325 and 1360. There will be more short covering ahead of the FOMC announcement tomorrow.
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