An Encouraging Day -- MrSwing

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An Encouraging Day
Oct 20, 2008

Carl Futia

CarlFutia.com
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It looks like we are seeing the kind of "no news" rally that I mentioned two weeks ago in this post. It appears to have started from the October 16 low at 865. I think this phase will continue up to 1080.

The late break last Friday faked me out and the move above the 970 level this afternoon means that we should now see a series of bullish days until the 1080 level is reached. I still think the odds are better than even that the 837 low of October 10 will hold, but even if it doesn't I think it will prove to be close to the ultimate low.

I also believe that 12 months from now current prices levels will look low by comparison.

by Carl Futia (CarlFutia.com)