Next week's rally

The reversal off the lows of 1209 on 14th Dec had been weak. If we do not rally huge enough on Mon, then next week's rally (Xmas rally) will probably only form a lower peak and not the initial target in the range of 1300s.

There is a possibility still, on Monday, that we test the 61.8% at 1200 level before reversing up. This may form a positive divergence on the hourly charts.

I am confident that there will be a rally next week, peaking in the cluster of dates between 20-23 Dec, targeting 1250-1255.

I will provide Jan's road map after that.