Price is consolidating within range, above resistance/support line, after break_out. Staying within range, price may neutralize any overbought pressure(lower time_frames), before heading higher.
Breaking the support, price could retrace to 23.6%-38.2% area and 50-100 , Gap fill, before heading higher.
Within presidential Cycle, potential positive returns after mid - term elections into year_end and 12 months out, after the already mid October corrective pattern.
7 year cycle potentially in force.
Expectations for first rise about September of 2015, with the risks skewed to a later liftoff, and a very slow rising cycle this time.
Fed still keeps a 4.5 trill $ , with high probability of maintaining this for some time. Even as the Fed ends QE3, other CBs are stepping in, with BOJ, and ECB announced plans, for continued purchases going forward . Growth rate of global liquidity continues unabated.
Targeting 103, 109 and 120.