I’m not really prone to making bold predictions, but I really do think the odds are in favour of a significant rally developing here. Sentiment seems pretty bearish – that’s good. Much more important though – we’re just reaching an important support level and we’ve seen a bit of a sell-off after the recent rate hike. This knee-jerk reaction happened at the last 3 hikes. What happened every time ? You guessed it… a good rally. This chart says it all, and I’m pretty sure it’ll be the same this time, with a possible breakout of the wedge. If I’m wrong, it’ll be $1140 or less, but I’d say I’m 75% certain we’re going up, not down.