s&p buy climax up to 2500. so my early prediction of a double bottom and rally up to 2500 is in effect. we have strong buying here and i suspect this will hit our profit targets at 2480 and 2500 before a correction
I think the bulls will be able to get a double bottom with Thursdays low, and then push forward to 2500. I would expect a pullback to the bottom of the bull channel at this stage. 2500 is a big round number and a target for both the bulls to take profit and the bears to start shorting.
Based on trading range targets and and resistance at the top of the trend channel line, profit taking and short positions may be taken round these levels round 2480.0. if the S&P gets up here the likelyhood of testing 2500 is a real possibility. The S&P could then test the bottom of the shorter term channel and may even go further to test the bottom of the long...
