Outlook 2011 - S&P 500

The S&P had a nice run in 2010, up nearly 13%.

After a brisk run in the Fall, the market looks overbought and in need of a pullback.  1200 looks like the most likely candidate for support.  If indeed the market does pullback, it should be bought for a vigorous rally that should ensue.  It looks to me that the S&P 500 ought to run close to 1475 before the rally would be over.  This is the blueprint I will be following until the market shows me differently.