Near Term Trend: Positive
Fridayâ€™s Close: 374â€™4 (+ 4 1/2 Cents)
UPDATE: Our theme five months ago: Quite bullish as long as support at 327â€™0 holdsâ€ť. Subsequently, once price action traded above the 335â€™0 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 371â€™0 was violated.
I would expect a further gain toward the 394â€™0 region.