The rally pattern shown couldn’t be much clearer, but only time will tell whether bulls can deliver. A thrust exceeding the 1211.00 midpoint pivot would make a finishing stroke to 1221.10 a decent bet, provided p is breached by at least $1.50-$2.00. Night owls looking for a risk-averse entry opportunity should note that the two labeled external peaks (#1 and #2) hold the promise of setting up a lovely ‘camouflage’ buying opportunity. Specifically, it would require a b-c pullback from somewhere between the lower peak (1211.00) and the higher (1211.70).
