Jan 182011

The Stoxx has not fallen like I anticipated, as I wrote in this post.

A look at the weekly chart shows 2953 is a key resistance level.  I believe the ES is going to make a temporary top.  It could continue up to 1330, that’s about the top of my estimated range for the top.  So we have ES in “top territory” as well as Stoxx.  I’m not saying this will be the end of the bull market, I’m just saying a nice correction would be healthy for the markets and would provide an excellent buying opportunity.

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