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If you hadn’t already guessed it, the market proxy is Microsoft. An excellent representative of the market at large. Gone parabolic in relative terms on no fundamental change other than erosion of its absolute grip on the o/s hold. Stock should be in the $90 to $120 range
Long time. Technical, fundamental, dart thrower, won’t make a difference. One look at this chart (market proxy stock will be revealed tomorrow) tells you what will happen, because sooner or later gravity wins
We will go back down to ~ $1150 on the cash S&P but then rally hard to a new target of ~$1425 by mid December
This was my call for Friday Sep 23rd, still carries through. New S&P cash target is $1030
One more up-leg left in this move that's devoid of any sense. Let's call ~150 the top which leaves us with $13 to go on the July's contract.
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