Yesterday’s vicious chop was appropriate considering the obviousness of Friday’s bullish enticement. There are no rally targets worth talking about at the moment, but any effort to get long at these levels is justified by the robustness of the impulsive thrust. Assuming you use camouflage, it will be easier to accomplish on a pullback that leaves a pitted trail of ‘external’ peaks similar to the one that has occurred earlier tonight (red arrow). The ‘external’ peak at 32.535 could conceivably work, but it looks like too big a leap to go unnoticed by other traders.
