I saw it as the successful attempt at hitting the sell stops that were set at the previous hour's low, and at hitting the halfway point between the 1480 intraday low and the 1497 intraday high. Two reasons means more stops to go off. Wyckoff spring later, and away we go. Nice call, Wave. 1560 remains to be seen, but the buy opportunity was there. I've been on vacation (somewhat) this week, but there has been some good trading here, combined with patience.
12-12-07 04:39 PM Buyers @ 88 and under likely taking it to 1508. If we make it past 1508, it will likely go all the way to 1560.