Notwithstanding the problems of Europe and a global economy headed into apparent recession, the charts we looked at during this session say very clearly that stocks are capable of going much higher. This came through so clearly in the QQQ chart that we segued to a Dow chart just to make sure that we weren’t hallucinating. On the trading side, we turned the lesser E-Mini S&P charts inside out looking for immediate opportunities, and there were some good ones to be found.
