The rookies were selling the gap down open today, and since this market doesn't have many rookies and chumps left, we went straight up. The market is carving out a range from 1147 to 1165, which corresponds roughly from 1150 to 1170 on the SPX. I see this market trading in a fairly narrow range this week, I would be a seller around 1165, and a buyer around 1147. If we are going to overshoot, I think we'll probably overshoot on the upside. Healthcare bill and Greece are keeping bulls from getting overly excited, which probably means that we can grind a bit higher from here for a couple more days.
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