Well, we have new all time highs now, so it's not looking good for a pullback. I thought we could see some kind of move down, like maybe to the 640.44 FP, but it's not looking likely right now. The more the market goes in a sideways range the more the base forms and that leads to a breakout like we had yesterday.
Maybe it's a fake breakout, but it's not looking good for the bears now. I have now way of knowing if the Fed's have put QE into the market yet or not, but if they haven't then we could still see some kind of small pullback soon. I really can't get bearish here when I know the Fed is either already putting QE in the market or will do so soon.
If the bears get any pullback it might be just a 1-2 day wonder and will be bought up by the bulls that have missed this rally. Nothing else to add here, so I'll keep this update short. Next resistance is around the 6800-6820 zone that I've been talking about for quite awhile. That could be where we see the only pullback before the massive squeeze.
Have an blessed day.
