Weekly Update

950 is proving to be a strong resistance but it makes me wonder how we are still holding up so well. If we manage to close above 950, it should go higher without stopping because there are lots of stops above 950. For the last 2 weeks we have basically stayed in the range of 920-950. In my opinion this is a bullish sign. I was expecting a sharp sell-off at least to 880 but the market does not want to go down. This is just a consolidation before the next move higher starts.