I have no good visibility, and for now, despite the fact that we are above the original target for this ramp (2140/50), the market has not generated the extreme often associated with an important intermediate top. My expectations (but not really "forecast") is that as long as we do not go into major extremes, we keep going up slowly. The next natural resistance is in the 2200 area. I don't think we get there at once, but if we retrace (probably to the 2085 or so area) soon, then later in the year we have a good chance of getting to that 2200, and maybe even printing a new HOY before the end of the year. If we continue straight to 2200, I would probably call my cleaner for that bear suit, since I would expect some parameters to get out of whack. Until such happens, I think that becoming too negative just because the rsi is already extended, might be dangerous if the various BP have indeed put in respective bottoms. If you wanted to label my stance here, it is neutral and expecting a trading range in the 2085 to 2215 for a little while. We are near the top of that range for now. Mind you, I still have not layed out any shorts as of this moment.
