I FORGOT……..
In the article I posted just a bit ago entitled "What is Obvious is Now Obviously Right? You Bet" I failed to answer the question of whether the S&P is headed to 1200 or 1250 as a lot of traders seem to be waiting for.
My answer is: NO. I believe the high of the day today was as far as it will go. In fact, I will go a step further and say that today's high on the S&P 500 of 1190 won't be seen again for the remainder of 2011. August low of 1101 on the S&P 500 should be taken out in the next few trading days.
