The powerful rally in the S&P 500 continues...beyond my next target of 1175 towards 1180, using the emini chart. My pattern work argues that a new upleg began at Sunday evening’s “healthcare low” at 1144.50, which if accurate indicates to me that the e-SPM still has a number of upside “zigs and zags” ahead prior to completion, which could be at 1180, or 1200 at this point. Only a decline in the e-SPM that violates 1170 will begin to compromise that pattern and the upside projection.
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