The way it looks with this daily chart from the Nasdaq futures, there is a 'spring coil' the market rally.
It is forming an inverted head and shoulder pattern, or a cup with a handle.
A pattern that a bullish scenario is unfolding the last few weeks of market trading this year of 2012.
The way i look at it, the target till the year ends is at around 2800.00 plus.
A buy signal is now appropriate with stop at 2600.00.
Let see come the days ahead if it will sustain.