Despite the stupidness of the market, the bulls got the breakout from this recent trading range that they were looking for.
Once the S&P works it’s way above 915, it’s clear sailing up to 955 – 970, as evidenced by the small amount of resistance on this PnF chart. I’d look for bigger volume to confirm this recent joyride, though.
My gut feeling is that the bears are about to get a taste of what they’ve dished out to the bulls all year long—a shit samwich, with extra mayo. Tisk, tisk.
As for me, I will continue blowing up small Japanese cars with my new shotgun, a Christmas present, no less.
BAM!If you enjoy the content at iBankCoin, please follow us on Twitter