It's been awhile, and maybe I'm wrong but 1396 was a critical level as I recall.. It does not matter if I'm right about that. Right now 1396 is a critical level. At least that area is.
After watching the stagnation around the target area of 1422, it looks like a base build. When I look at the charts I see a spurt to the 1490-1520 area. It seems crazy to me, but that's what I see. This market can't possibly be driven by serious long term investors. Where's the future? I'm talking to people about survival for the next few years, not investing in some new IPO (initial public offering).
My friends are getting serious about their options for food, water and utilities. Their not looking for big screen TV's. Maybe that's happening in other cities, but I think the common person has seen the writing on the wall and the bogus stats we are hearing about job grow... well they just don't "trickle down". Do they?
I love the whole Mayan calendar thing, but it's probably like Y2K or the year 1000 when people were are in a tizzy, but wouldn't it just fit to crash on 21 December 2012. Wow look at all those 1's and2's. It must mean something.