Not only did Friday’s short-squeeze rally close above an important midpoint resistance at 12523 identified here earlier, it also exceeded a prior peak from June 1, refreshing the bullish impulse on the daily chart. Taken together, these accomplishments will shorten the odds of an eventual move to a 13182 target previously noted. Also, because three more ‘external’ peaks lie within 200 points of here, any strong rally as the new week gets under way could make the move to 13182 all but unstoppable.
