I expected more exuberance to be displayed through yesterday's rally, the lack of such (the ISEE (ecpr, only opening long positions) at 125 is the lowest since the May low at 103, and the moving averages are hovering around 160, quite neutral), may indicate that that 2120 will be revisited sooner than I expected Friday. I still see the 2140/50 as major resistance, and unless we continue advancing without getting extreme optimism, a range in the 2040/2140 is probably a good bet. If the run to 2140/50 is not accompanied by exuberance, we could easily print a new Naz high for the year before new year. I expect, however exuberance to return rapidly.
