I expect higher prices here but how we get there is anyones guess. 945 should be a done deal and possible 987, yes 987 but I am always cautious here as the volume seem to be telling us this is no broad based rally indeed. Reason why I think higher here it is more or a timing factor than price. We have been correcting this move mostly in terms of time instead of price and that's why we are just chopping day in day out.
I think firmly this intermediate top will be reached withing the next 5-6 weeks, the lastest the week after July 4th and then we will more than likely retrace.
Lets see if we can find some decent plays when we break out of this chop to capitalize on. We have to be patient and not jump the gun.
Have a great weekend.
Saturday, May 30, 2009
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