Sunday, December 4, 2016

December 4, 2016

Well it has taken some time but they finally got to the 2214 target that has been anticipated.

Now the looming question is whether or not this was the finale. I believe we are in for a correction but for now won't anticipate much until after the December FOMC a week from Wednesday. I believe if we correct into that meeting the bounce that may come off it could be short lived. Right now I think we have to test something into the 2163-2180 range.

I hope to have a little time for the blog headed into the holidays so I am not going to get ahead of myself at the moment. Right now I think December is setting up to be very interesting.

After the move yesterday I can see this puncturing my next objective. Trying to talk me into no resistance and free air at these levels isn't going to work. 2250 give or take will  provide plenty. That dashed black line at the top of the chart that has been there forever was always the probability. Managed to get near my next price about a week earlier than anticipated. Get above that and I will believe the bull keeps charging.

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