CME

Here is a daily bar chart of the Chicago Merchantile Exchange. I last commented on CME here.

CME has actually managed to move past my long standing bull market target at 541. Still, I think the bloom is off this rose and that CME is more of a trading stock than an investment situation now.

I think the market will carry CME up to 595 or so this trip. The 599 level is the top of the second box defined by the hight of the recent trading range. Moroever, a rally to 595 would make the move up from the 485 low on October 23 equal in length to the move up from the August 29 low at 425 to the October 16 high at 535.