I see 1480 as 200 day MA. I assume 10 month MA is a couple of points lower.
We need some support in the near term or this bull market is over.
I think Iran is letting off the pressure in Iraq intentionally. US spending for war effort will slow down quickly so our economy will go into recession just like after Vietnam war, end of gold standard, inflation from oil price hikes, end of Russian Space race, retirement of WWII vets and Watergate scandal.
The similarities in how the market substituting housing bust, government deficits, weak dollar, Bush foriegn policy diasters and baby boomer retirement will behave today is uncanny. We are talking about multiyear sideways if government policies are accommodating
