The Black Box

[mjk]

I don't think so...oil's continuing to be a drag...I still think this is the end for it for the next several months, but it's not dying easy that's for sure.

From the oct low we've risen 350 points on the comp and we're down 75 points from the last peak...the goal is ~850-1000 points off that oct low and I expect the last couple months rise from june into july/aug will make up a good amount of those points. Until then we deal with oil and the fed uncertainty bs, but continue to make higher highs...when it's clear the fed is done we'll go nuts and I think get ~500 points in two months.

I consider every dip a buying opp...just like 2240 and the minor dip below we had to give the bears confidence, I think we're doing the same thing now with 2300. I'll be more interested in where we're at in a week or two. If we plunge below and don't recover right away I'll start thinking about the trading range again, but I don't think that's going to happen.