I believe we have a good chance of printing a new high and maybe reach that elusive 1940 before we see that "elusive" 1757. Frankly, right now (and until we see deterioration in the internal parameters and not just excessive optimism in the "sentiment" indicators), "dangerous, but bullish stance" stands, and thus that 1757, is for now "off" the high probability map. That can change rapidly (thus the "dangerous"), but you got to stay with the short term trend. 1757 could come back into the picture if the corrected P/C ratio drops again under .36 (it got to .44 Friday), or if we have a sudden expansion of new lows on the Naz. Right now, we have neither.
