Quote from JSSPMK:
Last Month Hi was 1,224.75 I believe, so conservatively that ought to be intial target (or just under). Beyond that the door is open to 1,242-48 IMO.
Quote from schizo:
Last month's high was actually the retest of the high made in May. So this one is up for grabs IMO. I think there will be a significant resistance.
I personally think this is a "buy the rumor, (soon to) sell the news" reaction following the ADP report yesterday. They're betting on a stellar jobs number coming out tomorrow.