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e-SPH Extends it Near-Vertical Advance Despite Greece


This morning's surge in the e-SPH has hurdled the Dec-Feb resistance line at 2048.25, and has cleared key "swing resistance" off of the Feb 2 low, now 2048-2054, which positions the price structure for its next challenge-- a test of the prior rally peaks in the vicinity of 2062.

Only a break below 2030 will begin to compromise the near-term expectation of a test of 2062.00/50.

As for crude oil, the correction of its Jan 29-Feb 3 upleg ($43.58 to $54.24) ended yesterday afternoon at $47.36, when the price structure pivoted to the upside into a secondary-recovery upleg that projects to $58-$60.

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