With US equity indexes - notably the transports, breaking new historic highs, it was a particularly bullish day for Ford Motors (F), which settled +4.0% @ $13.06, the best level since late July. Next upside target is the 13.60/80 zone. Any price action in the 14s offers a fast route to multi-decade resistance of the $16s.
A third consecutive day of gains for the best US motor vehicle producer.
We have some sustained trading above the key 200dma, and that does bode for continued upside to the high $13s, certainly no later than mid/late January 2017.
What should be clear, seen on a giant multi-year chart, any move >14 offers the 16s.
Any monthly close in the 16s offers far higher levels. The $20 psy' level will be natural resistance, but frankly, if we do see the 16s, I'll be looking for 23/25. That can understandably be seen as 'crazy talk', but then.. so was BAC 25/26 a few months ago.. and its already in the $22s.