Futures got into the equivalent 1474.51 cash area last night, but I want to see it confirmed in the regular session. It looks as though up to 1480 is possible before trend line resistance. In wave terms, however, it is not a good looking wave; it looks like a complex corrective wave that could be partially or fully retraced at any time.
1440 would be a good start. There is also Fibonacci confluence at 1423-1426. I'm being cautious with longs because at these highs I'm getting a sell signal on my weekly chart which rarely happens. I got flat SSO yesterday, for example.
Looks like it may be close to being ON with the scenario for the Facebook laid out in Reminiscences On Manipulation. The Facebook is closing in on 33.45, which if exceeded, will create a three-wave structure from the IPO day and suggest much higher highs possible.
The best part is, this morning, I found this:
Facebook's Era Is Over; Now What?
The writer says that "investors have moved on." Maybe they have. Maybe that's exactly what the operators wanted them to do, so they could get their shares.