SPX and NYA: NYA Captures Upside Target

Last Friday, I noted that SPX had captured its first downside target, while NYA came very close to its target.  I also noted that it appeared to be an ending diagonal and that it was probably done or close to it.  Whether SPX follows through to retest the ATH or not -- we do at least know now for certain that those warnings marked a tradeable bottom:

We can see above that SPX has broken out from the diagonal boundaries, which is a good sign for bulls -- but bigger picture, it's facing the old red trend channel (which it looks likely to clear -- the test will be whether it can hold that):

NYA has captured the upside targets I provided on Monday:

In conclusion, bulls shouldn't get complacent -- but so far, SPX is performing in line with the expanded flat I've been tracking since November 14.  Be aware that the bear side of the coin would be that the recent bottom was the A/1 low with the current bounce being B/2.  I'm still assigning that lower odds, but it was a very weird pattern heading in to the ATH (as I noted in real time), so it's not something I can rule out.  

On another note, Happy Thanksgiving to everyone!  As is the 14-year tradition, there'll be no update on Black Friday's short session and the updates will return on Monday.  Hope everyone has a pleasant holiday -- in the meantime, trade safe.