Hi 582I fully support your call for the SP to challenge the 61.8...

Hi 582
I fully support your call for the SP to challenge the 61.8 fib. As can be seen in my first chart the SP has respected this fib line the past 2 times the SP has rallied.
2nd chart shows todays top poses an interesting challenge with the need to close the gap formed back on 3rd April. IMHO we need to run through this tomorrow to keep momentum. The break through the trend line on Wed was with large volume and there was solid volume again today. The Stoch and MACD are also suporting the move with both honouring their respective trend lines and the MACD breaking through its overhead resistance line. Provided the POG shows support around its current levels we should see continued northward movement.

Good luck to all and protect your profits.

MDP