Thursday, December 1, 2011

More Upside

The market has been consolidating and it seems like we will see a bullish wave starting tomorrow or Monday to challenge the 200 day ma at 1265. That's assuming this is a normal W5 and not an extended one. However, bulls are free to take this all the way up to 1275 or even 1292 before going into a real correction down to the 1220-1230 area? so I'm looking to take profit on the next bullish wave and reload at the test of the TA on the correction. The TA is currently at 1200, so once the correction starts it should take a while to get there.

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