Needing a break and the fact that nothing had changed since my last blog, I took off writing the last couple of days. I don't write for a living you know!

I left off with the illusive Mr. "S" and his 810.45 line in the sand. Break it and we go lower here. Hold and we go for one more ride higher. Well guess what. It held. So....we got the one more push (so far) higher to a new recovery high in the S&P. The question is what's next?

Well, if you'd sent your payment in from that bill I sent to each of you in the 23 Countries around the world that hit my site, I just might tell you!  But alas, I checked the mail and.....hold on a minute. My secretary's yelling something at me. Uh....sorry about that. She tells me we didn't ACTUALLY bill everyone. Well...I'll deal with her later.

So, I guess out of the goodness of my heart and in the spirit of the Easter season, I'll spill the beans. But don't tell anybody....or if you do, at least look around to make sure no one's looking so it'll look like you're saying something top secret!

So here goes. With the push higher into the close the market's finishing up an ascending wedge pattern. You can see it clearly on the charts if you look. That's an ending pattern. The question is, the end of what? 

I believe this could be the end of the initial move up from the March lows. The market may push higher still, perhaps to 866 or 875, in an "over throw" of the pattern to the upside. But weakness should follow soon after. 

So I'm watching two things now. The first is, if weakness sets in how low does it go? The second is, does this market power right through the ascending triangle pattern and head straight up? I think both are a possibility.

Weakness to 800 would be ideal for me, and I'd definitely be a buyer. This market has a lot further to go to the upside before it's done, maybe further than most anyone believes possible.

The "blow right through the top of the ascending triangle pattern" scenario carries weight with me simply because the possibility exists for a parabolic price move in equities just like we saw in oil. This is something we're beginning to think is possible. For that to occur though, both the Dow and S&P would have to better their January 09 highs. I'm not sure they can, but if they do....look out.

So that's the story tonight. Buy weakness and be careful shorting strength, unless your as good as the illusive Mr. "S". Also, get ready for the possibility of some price movements that will make absolutely no economic sense. Just remember you heard it here first.

Now if I can just find those pesky billing addresses.