Check out the stunning power of the impulse leg on the daily chart!  The move from June 23’s one-off low at 54.06 has eclipsed no fewer than one “internal'” peak and  five “externals” in a sensational run-up that streaked for nine days without pausing for breath. The rally’s strength was foretold by an initial, minor rally from the mid-June lows that easily surpassed three external peaks on the lesser charts. At the time, I commented that bears would soon be in for a rough time, and that has proven to be the case.  Friday’s over-the-top finishing stroke will set the stage for a continuation of the rally to the 61.73 Hidden Pivot shown in the chart. It may take a week or two for the Cubes to consolidate for the move, but rather than speculate on its timing, we’ll simply monitor the lesser charts for the first sign of a launch, jumping aboard if and when the opportunity suits our risk-averse style.  (You can do these calculations yourself, quickly learning how to out-forecast even seasoned gurus. Click here for further details and a $50 discount to the upcoming webinar.)