SPX Captures Target

Last update noted:  

SPX has formed a potential bull nest over the near term.  Bears would need this to be part of a diagonal (or b-wave), otherwise it's just going to run higher for a while (at least a few weeks)

Be aware that unless something new materializes, I'm probably going to be saying "no change" a lot.  Nevertheless, I did want to highlight some interesting recent events, starting with SPX's near-term target capture:

Next, we have another target captured and exceeded -- this time from June:

Finally, let's keep this in mind:

In conclusion, unless SPX whipsaws its recent breakouts, we just have to presume the trend remains up. On the bear side of the coin -- well, SPX has reached two targets, so there's always a short reversal window when that occurs...  and while that probably looks less likely, it is a Fed day, so it's never a 0% chance. Trade safe.