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This market continues to impress with the very brief time it spends at key reference points. As an example, we only spent a few sessions coming to terms with the 1300 zone on the S&P 500, before blasting through it. Today, after two just days, we plowed through the 1330-1332 level. Once again, the bottom line is that the underlying bid to this market continues to be extremely persistent and omnipresent. With that said, playing only the best individual setups remains crucial.
Looking ahead, we have 52-week highs up at 1344 in sight, especially with a close today above 1332. Overhead supply has been a factor here, but only for a blink of an eye. Remember, these key reference points are not areas where you automatically call a top to the market and start shorting. Rather, they often serve as excellent litmus tests to discern just how strong the bulls are. In this case, we seem to have a pretty clear answer that to question.
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Trannies running, has made for a good swing.
yep–good eye.
Just keep posting lovely ladies and everyone will read them!
lol they love the content
thanks chess.. we’ll see just how strong the underlying bid is to this market when QE2 ends 🙂
rookie!
How the shorts are feeling right now
http://www.youtube.com/watch?v=Tffr6Kq-Wug
The maket will appear to settle into a summer range after a pump higher to retrace. Then boom, big up!
Hey Chess, is the 12631 an additional fee on top of the PPT? Just curious. Thanks.
Yeah it is only an extra $26-$29 or so a month depending on subscription length. Here are the details… http://12631.ppt.ibankcoin.com/learnMore/
Cool Deal. Thanks.
Worth every penny, and then plenty more IMO.