The market broke out of the triangle today and in the process captured the TA. So this shows more clarity of where the market is headed next. I labeled the waves and unless the market proves me wrong, this is a W3 wave in process. Also, the pattern that was formed is a Diamond bottom which effectively now targets 1385. We would need confirmation on a rally with stronger volume to solidify this pattern so we'll see what kind of day we get tomorrow.
I went 200% long today at the close and I'm using the TA as my stop loss for half of the position. Also, I did some calculations and as long as the TA does not get closed under in the next 20 days. I see the market reaching 1400 this month, 1403 to be exact.
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