Wednesday was a pullback day with the close near the middle of the range. Thursday could be a consolidation day with potential false breakout of the consolidation range 2750-2775, unless it can breakout and stay out of the range.
Key S/R level for Thursday is 2775.
- Breaking above and staying above implies the next leg up is already on its way, targeting 2790 area.
- Breaking below and staying below implies it is still in a pullabck mode, likely to break below Wednesday's low.
Peter Schiff's article published in Forbes, highly unusual, but he predicted Market-Crushing Treasury Collapse to hit around 2013. However, the Fed has the printing press to easily delay the eventual dollar collapse.
http://www.forbes.com/sites/afontevecchia/2012/03/27/peter-schiff-market-crushing-treasury-collapse-to-hit-around-2013/
