Quick Update on S&P

A short while ago I said that I thought the market would drop to 1378 or so before moving above resistance at 1386.25. But after a minor dip the S&P's have rallied to 1387.50 and as far as I am concerned this means that this morning's low at 1380.25 ended the reaction from 1393.00, yesterday's high. I think the market will reach 1399 in the next day or two.