The Right shoulder of the 2008 declining H/S formation is pretty much agreed by most chartists out there. Interestingly, it matches up with where the upper bol' line is right now.
If 1440 is broken above, then as noted recently, a move to test the all time high of 1576 would seemingly be likely - no matter how crazy that sounds, within the next 3-6 months.
1445/50 would certainly be a good stop-loss level for anyone with serious money going heavy-short.
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*I remain long, via IWM calls, and am looking for an exit within the next 1-2 weeks, around sp'1435/40. I would then look to short, at the top of the next 60min cycle.
Good wishes for Wednesday trading.