SPX Weekly Targets

 While the DJIA is overcorrecting, the SPX continues finding support at the Pivot line:

The Barometer and the Bullish% indicator are favoring a rebound:

SPX Update

 So far the SPX is finding support at the Pivot line:

As long as the SPX does not break below the weekly pivot, the current retracement will be defined as constructive, and the outlook will remain bullish:

SPX Weekly Targets

 The major indices continue being defined by strong momentum evidenced by high Swing numbers. At this stage, a one or two day reset would be a most welcome outcome as it would help reset the high daily count. 

The Bullish % numbers are rebounding from deeply oversold levels and need several more days before getting overbought again:

The SPX reached the upside weekly target and keeps on printing higher targets:

SPX Update

 Momentum and seasonality rule for the time being.

While the Swing count remains relatively high and the SPX keeps grinding higher, the Barometer declined to deeply oversold levels and favors continuation of the upswing:

SPX Weekly Targets

 The SPX sliced through the resistance band but stalled at the upside weekly target:

 The Barometer retreated to neutral levels but the Swing and Bullish% counts remain high: