Tuesday, July 26, 2011

Tomorrow is KEY date

SPX should rally strong tomorrow. If tomorrow indeed shows a rally, that strength will reveal alot of information as to where this triangle is headed.

I'm asking alot of this market for a run well above 1400 in a very short time. I'd like to see SPX get above 1350 tomorrow or I may re-evaluate and lower expectations.

A characteristic of the stock market is to spend lots of time churning sideways and going nowhere before lurching into a trend. This sideways churning should change to a lurching trend rally tomorrow. Keyword is "should". Staying long.




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