Yes, you read it correctly. We broke through 12700 today, and headed North on the news of both Citi and Google earnings within the first hour of todays market opening.
Oil continued higher to close at $116.69(clk8) which in turn, helped Natural Gas to keep heading upward. The commodities, fertilizers, and energies can start to look expensive at some level. And when they break(POT), it will be a fast elevator to the basement or support. Whichever word you prefer.
But for now, it looks like we might be headed toward 13,500 on the long end or 13,000 on the short end before we test support. Remember the song, home on the range and think of Q2 and Q3, and maybe Q4 of 2008.
Good Fortune from Trade Equity!!!
Friday, April 18, 2008
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