If bulls manage a close of COMP above June 2001 high of 2264.58, there is really not much resistance until May 2001 high of 2328.05. Bears need to respect the power. There is a solid chance December will be a consolidating period so I still think it is wise to book profits ahead of that. These historically low VIX readings are something bulls can't ignore. However, there are longer term developments taking place that are nothing short of bullish. The key is for the COMP to hold ground above 2200. So watch 2265 resistance and 2200 support.
This entry was posted
on Saturday, November 26, 2005 at 10:38 AM.
