How far can this Bull go?

Last Friday I expected this Wednesday probably see 1323 or even set new high at that speed of +7points /day. But yesterday SPY was up only 2 points. Since it's unlikely to see SPY up over 10 points today, we could unlikely see 1323+ today here.

For the bulls, however, it's far better to have gradually upward days. When SPY rises at too fast rate(points/day), we should be warned. I still think SPY should see 1323 or even set new high while NAZ could test 200MA. After that, SPY could pull a little back to test 1291-1294. But overall downside might be limited because a year-end rally is well expected on the ST. JMHO