Nice rally today but it didn't go through any major resistance and the VIX is approaching its September and July lows.
SPX 1233.34. . . which is the high of Oct. 3rd should be challenged tomorrow. It's been a nice move over the past 5 weeks off the 1168.20 low.
Well Let's see.. GDP is excellent Unemployment is excellent Corporate earnings are excellent The Us Dollar is up 14% this year. Terrorists appear to be shifting their focus away from America to easier targets in Europe. Apparent Market Confidence in new FedChair Bernanke World wide markets rising... US Deficit less this month than expected That wasn't so hard, now was it??
Yes indeed, it's been a serious move. Do you think the Oct 3rd high is any more or less significant than the Sept and July highs? I was thinking we might trade through the Oct high and stall at those previous highs. If it goes through July's highs it could really take off. And there's our mandatory year-end rally.
satchel, I salute you, sir. That was an excellent call. Looks like we won't quite touch 10700 but reaching within 15 points is pretty freakin' close. :eek: