Long Term –
continuing pressures up into the long term down cycle. next target up is 1025. a trade down thru 755 will signal failure and a new move down to new lows. this long term down cycle ends 10/29/09. we are challenging the recent highs at a confluence of many targets. a trade thru 964 sets up a shorter cycle target of 1015.
daily –
the 938 entry point is triggered next target is 993 and 1011. 884 will restart the down move.
extended pressures suggest this move up needs a pull back; then look for a second leg up.