Al's holiday rally..

A very solid night in the US last night, seeing a 145 point rally! What makes this rally important, is the close above one of the major resistance levels @ 10700 (or 1131 on the SPX).



I thought it might be also worth while to show you a chart I did a few weeks back on the XJO giving a target of around 4750. Will this be the top of the rally short term? I'm not so sure! Having said that, a small pull back and a higher low would be a perfect setup to head towards the 5000 level.



I havent had time to put together many charts, but here are a few which might be of interest.

Woodside Petroleum (WPL) - 3yr weekly.



Altona Mining (AOH)



Finally, Al is lucky enough to be away on holidays for the week. As much as its nice to see the market rally, its even nicer to be relaxing in the sunshine not even having to think about the market. Enjoy Al!

Cheers and good luck today

Kevi