I hauled out the 240-minute chart to see how high, really, this hoax could go, and the answer is a hard-to-believe 1378.25, the ‘D’ target of the pattern shown. This implies a Dow Industrials rally of more than 400 points. Still, we shouldn’t underestimate the ability of the spinmeisters to put plenty of lipstick on whatever pig emerges from elections about to be held in France and Greece. If the results trigger something like eurobailout mania, short-squeezing this vehicle above the midpoint resistance at 1337.75 Sunday might, we may infer that more upside awaits, presumably to the hard-to-believe target. Camouflageurs should make ready to buy-stop their way aboard if a quick b-c pullback ensues on the 2-minute chart following a marginal upside penetration of 1337.75.
