The market wants to go higher and it looks to be testing the 850-858 area. This could setup a potential move to the 875 pivot and possibly up to near 890. Look for a possible head-and-shoulders top near these levels. I've drawn in a stop at 840.
I will note some negative divergences in the Money Flow and Momentum in the face of rising prices, but I'm discounting this for now because it's not surprising to see the market get coiled around important pivot points.
Tomorrow is the FOMC decision and we'll hear BerTANKe's outlook on the economy.
