Another bullish day finishing very strong with a new 2007 record on the SPX. We're still holding on to the trendline on the 15m chart, and the next upside target to close would be at $1527.60 to break the all time record. Probabiliites are high that we will see that within the next week. Should we pull back on Monday, here are a few target levels of support:
- Support 1: 1519.50 30MA & 15m chart trendline
- Support 2: 1516.75 50MA & 61.8 fib (see chart)
- Support 3: 1512.50 100MA
- Support 4: 1511.00 trendline on the daily chart
- Support 5: 1508.00 200MA
In any case, another week of solid gains and confirmation of our uptrend.
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