Near Term Trend: Positive
Friday‚Äôs Close: 374‚Äô4 (+ 4 1/2 Cents)
UPDATE: Our theme five months ago: Quite bullish as long as support at 327‚Äô0 holds‚ÄĚ. Subsequently, once price action traded above the 335‚Äô0 and held, the market barely looked back. There were some stops and starts of upside momentum, but overall the rally has remained intact, and this past week perhaps the biggest bullish development as our proprietary key resistance at 371‚Äô0 was violated.
I would expect a further gain toward the 394‚Äô0 region.