CK may have a good idea...I think he has a secret indicator that drives a cab...been to the airport lately CK?
But as far as I can tell, from a purely TA approach, it would appear that we may be headed for the next little leg up.
We've had this repeating pattern of a quick leap up followed by a couple of weeks consolidation a few times. It would appear that we are nearing the trendlines for both the SP, Stochastic and RSI indicators.
The magical Speed Lines (aka Measured Moves) that have been successful in predicting each leg up suggest a target around $1.34, which is in the ball park of the projection of the Cup And Handle pattern from Oct/08 to June/09.
I don't know if you are a respector of TA, but that's how my limited analytical skills see it.
Fingers crossed,
A.
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