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Mini Melt-up starting today or next week, SPX 1320


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#1 dTraderB

dTraderB

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Posted 04 November 2011 - 12:55 PM

Markets have shrugged off the Jobs report (no one expected much better than what was reported) and the Euro crisis seems to be approaching a more stable status (not settled but anxiety has subsided since Wednesday). Am looking for a relief rally, mini melt-up of 60 to 70 SPX points, resistance at 1320/1330. Financials leading the way but tech not lagging too far behind. Of course, I could be wrong. If I am, then we will see 1190 in a few sessions.