The resemblance of yesterday’s bullish spike to the picture I’d sketched out hypothetically on a chart was striking — and quite bullish, as the tout itself will have made clear. There has been no correction so far, and it’s possible the impulse leg will eclipse yet another ‘external’ peak or two before bulls take a rest. For now, I’ll suggest kicking back and enjoying this effusion, since boarding at these heights is going to be diabolically tricky at best. If the rally retraces 50% of the nasty decline from October’s 35.445, the futures are bound for at least 26.815.
