Friday, July 15, 2005
Chicago Merchantile Exchange A
Here is a daily chart of the Chicago Merchantile Exchange stock (CME) traded on the New York Stock Exchange. I have drawn the bull market boxes which were established by the reaction earlier this year from 230.25 down to 163.80. These boxes are 66.45 points high.
The low price since the IPO was 41.14. We are in a bull market so I think CME can easily reach a level 10 times its low or 411.40 by the end of the year.
Meantime CME has broken past the top of its second box at 296.70 and should soon rally to the 1/2 point near 330.