SPX Update: In the Pedants' Day

As those of you who've previously installed the Outlook Calendar app already know, America just successfully turned 250 years old -- so a Happy Belated Independence Day to all my fellow Americans.

The market has, not surprisingly, continued sideways-up ever since I drew the Most Frustrating Pattern in the World on the June 25.

But now it's about time for bears to either make good on this pattern or return to hibernation.

Not shown:  INDU made a new all-time high on Thursday.  SPX tested black:

In conclusion, bears have reached the first upside inflection zone, so we'll see if they can make good on it -- or if it was all just another Bear Head Trip™ caused by Ben Bernanke, huddled in his cave, sticking pins in bear voodoo dolls.  Trade safe.