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It looks like the March SnP could hit the 1279.80 target today. Right
now at 1278, I would say that it was a good call. The index went through
the 1257 target and could be on the way to the next target of 1273.60.
There are currently signs that a retracement should occur. There is
still no count to the down side. The CBOE put/call ratio is at an
extreme .53 and yet the OEX put/call ratio is in the middle of its
range. As targets are reached, stops should be tightened to preserve
profits. good trading. Ira
The above are not recommendations to buy or sell and are only
observations and calculations by the author.
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