Thursday, April 23, 2015 12:21:25 PM
At this point one major roadblock has been destroyed. The only risk is that it's an intraday event, but I would go on record to say that that's nonsense for this one.
You had the op to see just how ferocious the buying is on any dip, particularly if has some meat like a quarter at a min.
The pressure is built like in a volcano. The only question remaining, and impossible to answer, is if that volcano will ooze (grinding painfully higher), or will erupt (fast move up then plateau - so the big money can cash in their chips).
As always, the QQQ (and IWM, but hardly had the energy watching it too) has been leading the market, giving you a preview of where the pressure goes.
The resistance remaining to be taken out is February and that one MUST be done on a daily closing!!!
The target is 218 at a min in few weeks time (but could be a max as well, then sell into summer doldrums, to setup for later rally to 250)
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