Markets did make a little pullback after a 3 day run from 1120 to 1190 - then we got a pullback to 1150's and held above key support.
Friday is going to be a major interesting day imho and WILD swings is to be expected.... very wild.....
I'm overall still holding all my TNA as all my indicators is on buy signal - but there is a possibility that we are getting very close to the end of the rally imho......
We got to around 1200 and 1190 this time , the question is just if my target to 1220 area could come true today ?
Who knows - from what I see is that we broke some key resistance levels and on Thursday we pulled back all day long to backtest this trendline ( this is usually extremme bullish )
Remember I said this too when backtesting another support 1120 ?( we got to 1190 ).....
Now we are backtesting it arond 1150-1160 area and if this is true we should see a massive rally to 1200+ soon.
The thing is if you look at the TRAN chart we are getting right below a huge resistnace since late july.... if we break this ... its gonna be a wild and big move up... but the thing is that we could also breakdown from resistance here.... either break or die today...
We have also GDP numbers today which could also make the markets go or die... but either way , this day will be FANTASTIC to daytrade imho , come and join us in www.nwatrading.com and be with us to trade the day out.
Overall - but upside target remains at 1220 area possible or a higher high than 1200+ but my daily charts could give me a sell signal if we get a big red day today.... so that would not be good imho.
Have a nice day
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