My take on market is we r very close to profit taking. S&P close near to its resistance of 1257-1263 of this summer. There are weekly and daily resistance( MA) at 1273-1274. Nasdaq has hit its resistance on daily and weekly basis. In this euro driven market, we should keep an eye on euro too and it has closed below weekly resistance and very close to daily resistance. Moreover, todays upside is not followed by semicunductors. So profit talking in couple of days looks very pausible.

So, i would not take any long positions here which i want to hold for more than a week...but day trading stocks is whole different ball game....

Good Luck