After consolidating for the past few days, we finally broke above the 2 month old trading range. Upside targets include the popular 125, 200sma at 127 and 129. Bulls certainly have the wind at their back with month end window dressing next week and a FOMC meeting beginning of November. Fed Official, J. Yellen, mentioned the need of QE3 today. On the negative side we may have a bit of hang over Monday morning on such a strong run, especially if we have a strong open. If we continue to run, turn around Tues or Wed maybe the bear’s next defense.
