What next?

Thought? Well I am just going to speak what I see on the chart today... First off I still think we are in an expanding triangle from July to now. Yesterday we bounced of the bottom of the expanding triangle. So as long as that bottom of the expanded triangle holds then we are still in this trend. So what is next? Some people say 1115 to 1130 then back down hard... This is possible, however I think it would be more likely to me if we would of broken that bottom of the expanding triangle... However we didn't. So my target of 1175 and maybe even higher now since we have plenty of room on the indicators now....

Another reason why I don't think we are done, which I have mention several times. If 1150 was the top I would expect the RSI and all the other indicators to be maxed out, not just bullish. 30% + corrections come after everything is extremely overbought. So again I will be watching the daily RSI, I want it over 70 to 75 before I am confident we are done.

So keys - we should run up to anywhere from 1115 to 1130 then pullback down to 1100, and run again... however if that bottom expanding triangle is broken then this is the pullback. However I am sticking to what I have seen on the charts and what I see now. 1175... GL

Daily SPX - to me this is the most important chart right now.... RSI, stochastics are the lowest that have been since end of June and beginning of July... That was followed by a 100+ point move... For the indicators to pullback that much and stay within this uptrending trendline tells me we are still bullish... I still think this will be the last leg up, then that big correction comes...

30 min SPX - fork and trendlines will show us the way.. Look for a bounce down off the middle fork then a break thru the middle up to the top fork... break thru the bottom then bulls are done...