It's very clear that I will get an overbought signal today. Remember that 27.20 was my target when we were at 23.60. Because I think we will go higher after a correction,perhaps even to 30(!) I may just go off margin today. We will see. I would watch for % corrections off of new recovery highs.
This market may well get very, very expensive, ahead of an improvement in earnings. It is going to be very hard for bears to stomach a huge rally with no economic recovery. It may help them to set aside the negativity for awhile, and consider that we had a huge sell off in the face of improving economic news from 3/00 to 11/00. I will post a trade at the time I make it, so this may be it for me for the day.
All the best to everyone
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