Hey diesel, happy thanksgiving first of all...hope you have a good one...and everyone else on the board too.
Second, since we did rise yesterday, it still seems to me that we're stuck on the first path towards 2153. All my reviewing a couple days ago may come in handy later, but for now, it seems like it was unnecessary. So now I think in the next two days, we could have a nice up day right thru 2112.
But what I'm looking at right now is some kind of short term peak above 2153 around Dec 6-9...so 7-10 trading days from now. And I still think the sox gets carried up about 6% in that time to 460 (the 300sma). My first target on the comp is 2175, but I'll be watching for higher than that for signs that the pullback is very minor before launching higher. I've still got about a 50/50 chance of a 5% pullback from 2175, or going towards 2220, then falling back to 2153. I think one thing I'll be looking for is if we get 2153, then fall to the 9ema over a couple days, then bust thru 2153...or if we bust thru 2153 on the first attempt. This may provide a sign as to how high we can go above it.
I've also been considering the possibility of a 98 or 99 type melt up which could still take us to 2500, even without a test of 2052 or those other things that path 2 would have had. I think it's at least possible, but first things first, let's just see how 2153 is handled.
Take it easy.
AI
