Bulls are back in business...

Trading is definitely an art. We talked about pattern violation yesterday but the big picture is still up. The tricky part is when do you sell and when do you hold long when pattern or pivot is violated. Practice, practice and more practice and believe it or not traders can be trained. Ok, to recap, we have the completion of daily and weekly H&S and 5 waves. Make a note, this is wave A of corrective ABC and using Fib ratio, it should theorectically reach 660 as an intermediate term target. The word intermediate is mentioned because as of today, intermediate up trend has started. Today it closed beautifully above 627 and tomorrow's numbers are 637, 627 and 622. A chart is posted again today to illustrate. Pivot numbers are important but one has to look at the forest too. Longer term hold will produce bigger results rather than crumb change.

2c