It's because of this.
John F. Carter 2/1/2012
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The S&P is currently in a very quiet area, bouncing off the mean, but testing new highs. Long squeezes are slow moves in general compared to short squeezes. Looking at past long squeezes, it could consolidate for a few weeks and then continue upward. There is a key support level around $1300. The first test is usually a fade, the second, if the push is stronger, could break through and move to $1280 or so. If the move down is not as strong, it will probably move farther upward.
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