Flaw of this rally

Energy is leading by a large margin, probably we have 1-2 days of consolidation coming up before any higher, but then the gains so far are very mediocre. The market needs to blast and at least consolidate above 1335-1340 zone... For now I took my fat profits around 20 points! If we get a rotation where the energy gains are given back while the growth industries remain resilient, I think it will result in a sharply higher prices testing the Fed day highs at least (1360 resistance). It is within the range of the 15-16 day cycle magnitude... I am giving a little break for the next 1-2 weeks for the 4th of July holiday... Best of luck

Edited by arbman, 27 June 2012 - 01:50 PM.

BTW, I took half of the profits, not all of them. Sorry for the typo.