Kuwl's Position Swings & Bullish Trenders

[kuwlness]

Well, we held the 1303 area nicely today. I'd say if we close above 1333, then the market is likely heading to new highs, probably near the 1400 area.

So, you got two levels. 1333 and 1303 ... whichever we break first is the direction we're heading over the next few weeks. Of course we could still put in a lower high if we use the 1333 area as our last lower high. But honestly, it's my belief that if we break 1333 that we're likely heading to 1400.

The market has literally defied logic, gravity, and reason. It's now up almost 6% since the lows set only ten days ago. Wall St is completely ignoring all the terrible economic data that we've been getting. Apparently Wall St is convinced that QE is in fact coming. Might as well kiss your US Dollars goodbye.