SPX Update: Target 3 Captured

Yesterday, news broke that Deutsche Bank has apparently been reading over my shoulder, as they suddenly changed their prediction from a minor recession to a major recession, which they now say will be "worse than expected."  To which I say, speak for yourselves, Deutsche Bank.

In other news, SPX captured Target 3 (4170-85):

As with all target zones, that zone is also something of an inflection.  Everyone wants to know if the diagonal option is dead yet, and the thing is, while it's on life support, from a technical standpoint, it won't die until the low at 4114 is broken.

No change to the intermediate picture, which remains more clear than the short-term:

And finally, the old alternate, which has continued to gain traction:

In conclusion, no real change from the past few updates, other than to note the successful capture of Target 3.  Trade safe.