Recapping recent moves: Bullish or bearish
Huge move off the February lows at 1820's.
Multiple data points are showing exceeding strength in housing, jobs, wages, spending, discretionary income, and now manufacturing turnaround(?).
2100 is the strong resistance level for the past 1.5 years. in that period of time we had slow consumer growth and energy crisis along with overseas contraction.
Clearly the immediate fundamental data points is showing surprising strength. Anyone missing this point should reevaluate their assumptions. the street made the move since February yet the data point s have been strengthening after the move. I guess the street does see 6 months in advance.
What is the outlook for next 6 months? Jury is out but the cumulative affect clearly shows momentum building on domestic front.
I see 2100 as a great launching point and once that occurs there should be short covering like nothing yet seen. the surprise should be on the upside, not down.
I see Gold can't hold here. Hope it does till tomorrow. Will be betting both by end of day.
Glad to see some people posting their bets. It has improved my odds greatly by doing so. it prevents me from guessing based on emotions and I am more rigid in my selections.
Good luck all.........
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