I basically agree with that. Hey, I'm doing my part to get it there! EDIT: Now above 1460.50, so micro-uptrend is established. EDIT: JJ's 1462 has now been passed. Lookin' good. EDIT: This reaction down-move is on much reduced volume, which is a bullish sign. Hopefully will surge back up above 1462 on higher volume. EDIT: Less than 50% retracement, now back up to 1462. Terrific price action. JJ, you convinced yet? EDIT: We're now up better than 10 points, so there might be a little pause (expecially if Vol has anything to say about it).
I think it's a helluva headfake ... looking for price action to revisit the lows and drop further. JJ
You could be right. The acid test will come shortly if/when we close the gap (1465.25). I'll be ready to bail on short notice.
Ex - act - ly [chart] I must admit though, the Bulls are giving it a helluva a try (classic, classic bear market action). JJ
On days that open down, the unchanged level often serves as resistance. It looks like the floor has been trying to knock this up to unchanged. Several attempts have been made--close, but not cigar. Mbusch is right--hope has no place in this business. We are speculators, not dreamers.
mbusch, how did u do on your overnight trade. I just got up to find out the the buy-stop triggered at 5425. Not bad for one night stance.