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Start of the Xmas Rally, Or the Start of Complex Correction?


The "Noon-time Lull" has made way for a recovery rally from 2033.25 to 2052.00 already, which has returned the e-SPZ to its earlier breakdown plateau at 2049/55.

If hurdled and sustained, it will point the index still-higher towards a test of the extension of the lower-channel boundary line off of the 11/04 low, now at 2065.50.

The ability of the index to climb back into the confines of the channel will argue strongly that "the correction," or at least the first part of a larger, more complex one, is over, and that we cannot rule yet another run at the highs sooner than later.

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