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Things are moving right along. SP9H got to 1243.50. The interim target
of 1246.60 should act as resistance. Once penetrated it will act as
support with the next target of 1279.80. 1279.80 only has a 60%
probability, but with the current momentum and all that money looking
for a place to go, it is not out of the realm of realty.
US9H reached 126-17. 15 ticks away from the target of 126-02. Will it
make it tomorrow or wait till next week?
The SPX index reached 1229.89 today. Will the target of 1227 act as
support? next target for the SPX is 1257. The 1257 has a 60%
probability on its cycle but I have a 1273.60 target on a different
cycle that has a 70% probability. Should the momentum continue and the
phenomenal amounts of money going into Hi-tech and Internet stocks keep
up, nothing is beyond belief.
This bubble will burst. When is the question.
May you all have a wonderful holiday. Ira
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