Monday, December 20, 2010

Market Update - December 20th - 1250 finally..

I posted the 1250 target on November 30th and we finally reached that number today. The inverse H&S projection from August 31st has now been met but there are still couple of patterns that point to higher prices. I am not posting a chart today because there is nothing new on the patterns other than it is breaking out of the Descending Broadening Triangle as I predicted on Friday. And unless the pattern fails due to some North Korean missile, I think the market will continue to rally towards 1275. It might top before that but how tomorrow and Wed goes should give us an idea. I will be re-shorting this as soon as these patterns and waves are complete.

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