November 17, 2005: B/O

Finally! The market broke out and hovered above key resistance levels , especially the 10650 and 1228-30 areas on Dow and ES... Important lessons of the day are the energy buildup as witnessed in breadth with nothing to show for on the indices for the most part of the day except for ER.... Did ER drag this entire market up?? Don't think so, because breadth was indicating the futures were supressed on purpose and something had to give.... The afternoon was just a normal blowoff of all that pressure buildup... look at where VOLD and ADD opened- very high levels!!! I expect continuation over next few days to the upside...



Today's trades were easy - just take your pick! hehe....