The S&P 500 continues to show strength which allowed for a quick profit on yesterdays long position at 1316 on the S&P futures. As mentioned, things are happening very fast and a little bit more stewardship is helpful to grab some quick profits when they become available as was the case yesterday. The indicators are in buy mode but we haven't seen a pull back on any signifigance so be very careful in this market environment. The last bull run was 1/3/06 which made new highs for 5 straight days before forming a narrow trading range and giving back more than 50% of the gain. 1321.50 has become our new focal point to setup our next long position. A setup is required and generally we want to see 1321.50 go through twice before entering. Remember this market requires more attention than normal so you may want to stay flat until the market normalizes itself.