Ruck is getting cute again. Another top must be close.

The Santa Clause rally is showing up two months early this year.  I wasn't expecting to be at these levels until the end of November.  Earnings are expected to hit record levels this quarter.  Oddly they will be doing so during a global credit meltdown.

My current target on the upside is the 200 day moving average, or around 1270.  This coincides with around 12,000 on the DOW.  I have plotted how this move might look over the next two months, minus global events truncating it early.

I believe 1220 today was an excellent short location.  I believe 1240 will be a great short in about 2 weeks, and 1270 mid November would be a gift.  This move should definitely be the last hoo-rah.