I just mentioned ES 1390.25 and we hit 1390.50, but in my defense the 61.8% projection from last week was 1390.29, so let's not quibble. Close enough. It will be interesting to see if it pans out. R1 is higher at 1392.25, but NQ is still lagging (as far as new highs) so there is a chance 1390.50 was it and it does line up with YM 12198, a hair below 12200. They like those century marks. You do get the sense that 1398/1400 is targeted, but will it be a straight line from here? That would surprise me, especially since we have almost two weeks before the elections. But who knows. When cash opens, keep an eye on SPX 1383.37, 2001 high.
This entry was posted
on Wednesday, October 25, 2006 at 11:48 PM.
