With the Dow making new highs today the market has come within my range where if I was long term investor I would look to sell and go into cash. The range is between 18100-18500. Today’s close was at 18298. I expect another pullback to a higher low around the 2095-2105 on the s@p futures. I still expect over the next few months that the gaps below will get filled before we trade up again. Today one of the federal reserve banking members stated that interest rates should remain unchanged until 2016. That helped the stock market today. However the IMF stated that Greece next month will not be able to pay the 2 billion note due. That could be the catalyst for the markets to fall. If we get the pullback I am looking for, some stocks will set up on the daily charts. Oil is finding it very hard up here and as I have been saying that the weekly charts have a ton of overhead resistance. Gold hit my first target of 1210 then hit my second target of 1225. I am now looking for gold to pull in again to around the 1190-1200 range where I would be looking to buy.
2095-2105 pullback coming
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