When the market is in 'mad mode' constantly rallying like it is at the moment, the pullback always comes much higher and later than people expect. People are only recently commenting on how relentless the bull run is, so there's likely lots more to come. Maybe 1380 ish will see a decent little pullback?
I've got a couple systems that make money. They operate like tiny insects, reacting to stimuli, chasing after movement, processing very limited data from calibrated sensors. They don't have brains. They pick up the money that is dropped by humans who are infinitely more intelligent, but think they know the future........
Anyone too stupid to of shorted long term starting a couple weeks ago has no head... OP... check the Accu/Dis divergence, as well as the cycling divergences in MFI, RSI, MACD, CMO, etc. I do NOT know how far of a pullback it will be... but considering institutional traders are largely on the sidelines at the moment, it may be a little rough when they step in.
Let's see what happens this week. I've marked the level of a 5% pullback off of the recent high on this chart:
2morrow or 2 morrow nite.. http://www.chicagotribune.com/news/nationworld/sns-rt-us-sun-stormtre80m25q-20120123,0,916395.story..they can ,shut off the internet and turn it on 50 points lower ,catch all the longs