Some levels to watch, updated.
Updated areas: december 2010 gap @ 118.70-119.65 is a “thin”/vacuum area has been in play last week. If momentum keeps on going (so far futures up +firstname.lastname@example.org, at the time of writing), 120 in SPY might be in the cards. I tend to pay a lot of attention to round numbers. Will look particulary @ 1200 in S&P500, provided we reach that area, and see how price action develops.