The S&P’s have been acting very well, and today’s action adds to that feeling. September 1st you had your gap and go above 1060-1065. The week of Sept 7th the market consolidated above 1090-1092 and leaders acted well, showing commitment to the first up move.
So far this week we’ve held this new upper level above 1112-1115 and dips are still being bought. Rotation has been impressive. The longer we hold here, the bigger the chance for a move through 1128-1132, and the next spot will be 1138-1142, and then perhaps a huge one at 1160.
It’s been a very methodical strategic trade. Keep watching the tape and not the headlines.
