I can waste your time by outlining all the reasons why the market should continue to correct, but in the last month , the declines that the market has provided are nothing more than an area for bull to reload and rock on. I am bullish on prices during the next month or so — but having it happen in this form becomes problematic for this trader. I care not about the reasons why the market is rising — but have been expecting it since last fall– I care more about the way the run is occurring– PARABOLIC. No clue as to when the market will decide but perhaps it is starting to show it’s hand. You fundamental folks are likely not to notice but there may be some technical indications of a brief change. We shall see and if my suspicions are right then I will post in the upcoming Weekly section. The trend has been to come in and watch the market scream upward.
Major Support: $4.879, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92, $3.821, $3.722, Minor Support: $4.90, $4.728-$4.70, $4.65 Major Resistance:$5.486, $5.65, $5.93
