Despite yesterday’s feeble price action, I’ll stick with the 1382.25 target given here earlier. The futures may have hesitated because there was no alleged “news” sufficiently stimulating to stir bears from their post-holiday torpor. However, when they regain their awareness that the Mother of All Bear Rallies is still indeed a threat, expect them to forge a powerful new impulse leg with a breakout above the key 1342.50 peak shown.
