thursday rock and roll, page-2

After a few days in the sick bay to wake up to a sea of green is THE BEST medicine.

Following the strong move on Friday when it looked like the move to the topside was on its way, the market had one last trick left - to go back and have another look at the low on the SPX at 1040. Actually I think "they" (whoever they are) tried to run the stops just under that level. Once that effort failed, there was no other way than up. The Australian market had obviously sniffed the breeze and was having none of the pessimism resulting in a very strong day yesterday.

The XJO has built up quite a bit of resistance over the past few months all to the way up to around 4650. See how we attack that resistance now. But I still think that ultimately we are going back up to the top of the expanding triangle. I'll continue to sit with 5200 for the moment and if I need to adjust that up or down, I will. But will wait for the market to tell me though.

Once again I stress that I am not a day trader (unless I just get extra lucky when picking stocks) and really only looking for the bigger swings.

Great chart Nine Lives. Hadn't looked at zinc in ages. Does give me more confidence in my prognosis. Any chance of including your copper chart just so that I can look at it through another person's eyes.