Question And Response About The S&P 500

What's your take on the S&P's next move given the run up? Do you think we'll see a contraction and to what levels?

Ivan, I see the S&P 500 channeling between 875 and 950 all the way to the end of the year. So if you see it at around 950 and we get no news / data to maintain that level, we're headed down from there; however, there is major support at around 875 and if we do not break that level with heavy volume and bad news (economic data); then, it is time to cover shorts; thus, taking it higher again above the 900 mark. Again, I see it channeling between these two critical support and resistance levels through 2009...

Note: This communication took place on FB.