Good ol’ Days: Aug 1, 2013

Everything’s back to normal, with the eminis providing the ramp job rational appreciation the cash market was unable to accomplish.  Last night’s emini action is likely to land SPX right in the middle of resistance, but this should get it to 1700.

Best to be long on the opening, but much will depend on the ability to punch through 1698.  If it can, our next target is 1704.97.

UPDATE:  9:35 AM

So far, so good.  Back in the channel..for now.

But, here’s the Baby Ruth in the kiddie pool…

UPDATE:  10:00 AM

SPX just busted all the H&S Patterns, so the ramp job’s work is done.  They can now return control of the market to all the saps who will turn on the boob tube and get excited about the NEW ALL-TIME HIGHS!

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