Coiling

The market has been coiling here ready for a move both short term and long term. Short term we look like we will hit a peak sometime early this week but the pullback will be bought in my opinion. On the medium term I see us getting some bullish signals and maybe over the next few weeks we trend higher out of this coiling.
Again November-december last year I was signalling the 1045 area as a possible target on the upside and by my analysis up to today that number is this in play. To be honest I would not be surprised if we hit 1100 if we get up to that 1045 area.
Last week I noted I think we see new highs for the year before we tackle that 739 November lows and I will stick to that analysis for now. In the mean time look for some climax higher this week and swing some shorts especially on the plans for the banks by Geithner. It is a good shot that they sell the banks off after the news is announced.

Watch for 902 on the upside first target is we bust out after a modest pullback.

MARKETJEDI