Bulls tipped their hand yesterday with the little finishing stroke at the end of a nice rally (see inset). Notice how the intraday high at 664.00 bettered the September 28 peak, 663.25, by three ticks. That may not seem like much, but it is sufficient to tell us that buyers are eager to scarf up whatever supply is out there, big or small. With a potentially powerful rally in the offing, we’ll resume our vigilant search for low-risk entry spots: either with the trend via camouflage, or against it at p and d retracement targets. We’ve been successful in recent weeks using both tactics in this vehicle, although we’ve yet to catch the Big Wave that may lurk on the horozon. Stay tuned!
