INDU rallied up to tag the "next test" black trend line:
And SPX made a new all-time high:
Of note, this most recent leg of the rally (going back several months) seems to be being driven largely by retail investors -- perhaps historically so:
While retail is generally not known as "smart money," let's hope this time is different.
In conclusion, SPX does still have the option for a complex flat that runs back down to the recent lows, but again, right now that only exists as "an option" in theory, with no impulsive declines to make it more than that. We'll see if the market reacts with multiple indices at or near resistance zones, or if it just keeps chugging higher. Trade safe.
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