SPX and INDU Capture First Targets

Since last update, SPX and INDU both captured their targets, literally on the nose.  Let's start with INDU:

SPX's "textbook target" was 6356.  Friday's low was 6356.08.

As of this moment, futures are indicating a gap up, so the market is clearly acknowledging 6356 as more than just a random number.  

Now the caveats: a bounce at a key zone doesn't always mean the final low is in at that zone (the market often reacts to key zones, but not always "permanently").  The SPX chart outlines what bulls need to do next -- basically, they need to start getting back above the broken trend lines and the black channel.  

It's okay for SPX to fall back into the target zone again, but if it sustains trade below that zone, then the extended C target goes on the radar... and just be aware that if it were to sustain trade below the lower boundary of the black channel (SPX chart), it could be in real trouble.  Trade safe.