S&P 1100

The market closed at 1096.5 for the S&P 500. That is awfully close to 1100, an intermediate target for a lot of bulls. Plus we are at options expiration and the call buying has been fast and furious. The risk reward for buying here is extremely poor, we are overbought and today is options expiration. We are right around what will be strong resistance at 1100, and most of the positive catalysts are already spent (good earnings).
Expectations are high. Looking at the reaction to GE and BAC, missing analyst expectations is not easily forgiven in this environment.