Take a look at two months’ worth of gratuitous violence on the hourly chart if you think it’s going to be easy to predict when stocks will lurch, presumably with even more violence, from their agonizing holding pattern. I can say no more right now than that Friday’s price action created a bullish impulse leg that could produce a follow-through to as high as 1189.50 before this short squeeze runs out of fuel.  It’s not quite an even-odds bet yet, though, since the presumptive C-D leg has thus far fallen a few points shy of the 1167.25 midpoint resistance (A=1129.50 on 10/6, and B=1173.75).  In any event, the target will remain valid until such time as the point ‘C’ low of the pattern that produced it, 1144.75, is breached to the downside.