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To: The Ox who wrote (1383)	2/4/2013 12:41:22 PM
From: The Ox	Read Replies (1) \| Respond to of 8239

Well, the market climbed another 4% from the time of this post. Looking at charts of the S+P 500 and SPY, a break below 1470 would be very worrisome. Any backfill move that reverse up before then, should be considered a nibble on the dip. Certainly would want to be very, very cautious on a hard break below 1470, imo. Until then, enjoy the ride and expect plenty of down days after the great run we had since Nov. A healthy short term correction target would be about 15-18 points lower than where we are at the moment (1482ish). Especially if it's hit within the next couple of days. That should worry the bulls enough and get the bears hopes riding high. EDIT - Actually, taking a longer term look, a reversal down to the 1418-20 range on the SPY would close the gap from January and really get the bears frothy. That's also the area of last April's short term high, which was retested in May..... I am not predicting this will be a serious correction at this time, but we have soared since November so the downside should be considered in this light!