Dow Jones Industrial Average: +108.30 or 1.12% at 9791.71
S&P 500 Index: +16.13 or 1.53% at 1068.76
NASDAQ Composite Index: +30.51 or 1.45% at 2133.15
NYSE Internals: 2547 Advance. 517 Decline.
Important fibonacci date today. It marks the 38.3% time retracement of this beark market thus far. We also made a new high today.
Like I had said earlier, if we break 1050, we have a clear run to 1100. We made it to 1068 today.
Today's intra-day price action was definately a wave 3. Whether it is complete or not, is yet to be seen, but regardless, we will probably see one more high. Maybe 1096-1100.
We are hitting up against gap resistance now, the market should stall for a little bit, then work its way higher. Hopefully we can top before OpEx this Friday.
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