SPX, NYA, INDU: First Upside Targets Captured

Since last update, the market has performed exactly as expected, with INDU and SPX both reaching their first target zones:

INDU:

INDU's slightly larger chart still suggests possible problems for bears, who will need to break the March low to get themselves back in the game:

Finally, NYA (pronounced "enya" or "nyaaah," depending on whether you're north or south of the Mason Dixon line) continues to look like three large waves down:

In conclusion, as we can see most clearly on that final chart, if bears can't break below the March lows, then the structure favors this year's dual legs down as being an ABC.  That said, in the event that bears DID break below the March lows from here, particularly on accelerating momentum, then look out below, as we could be dealing with a large bear nest.  But for now, bullls have held things together right where they needed to.  Trade safe.