Ann: SMS executes landmark transaction - purchases 100% of AEM, page-26

Rajen, after yesterday steep rise there needed to be some pull back with profit taking and day traders unwinding.

Several days of steep rises tends to lead to severe corrections, causing panics. I always like a stair stepping rises. The 1.70 to 1.72 range seems like the resistance point. Here is what I would like to see happen, the SP bouncing around but moving steadily up (over a number of days) to that resistance point again and then another draw back and then pushing through on the third attempt. That would signal another good move upwards with the 23Fib's indicating 1.81 or alternatively the 38Fibs indicating 1.89 before the next leg downwards.

Only my speculation, DYOR.

Good luck folks

cheers Lies