WEEKLY CONTINUATION CHART: After the earlier breach of the 1291.25 2009 high the market has continued higher, now nearing dual resistance from a bull channel top projection and 76.4% retracement level at 1453.75.

We await reaction around here, expecting to see some form of resistance.

DAILY CHART - MAR-11:

Current upside focus is on the 1455 area, a 1.618 swing projection off the prior Nov setback. This ties in nicely with resistance on the Weekly chart.

We wait to see if the recovery from mid-Nov low is a final upleg prior to a better correction.

Near support has come from around the 1354.50 12-Nov high, although this is not a significant level. Further supports are calculable only after a temporary top looks to be in place.