$SPX All Time Highs! (Patreon)

Well well well. Here we are, S&P500 closing in on 5300 level, $QQQ above ATH 450 level. Markets been on a rip since 499 just two weeks ago. The Daily MACD Curl was the tell sign and it's very similar to what happened back in November lows where market continue to run for months. So hard to fight the trend. Last week, once the 515 level broke out, I knew was time to jump back on the bull train and so far, the momentum is still carrying especially with the in-line CPI data today.

Fib Extensions shows us $QQQ 455 and 438 $SPY is the next targets. But we did leave a gap at 522 mark today so I like to see some pull back in next few days to that level before longs again or even 520.

Hope you caught the move today! Both our downside target and upside targets was hit this week. 526 was hit during premarket and price almost touched our trendline target of upper 529 close to 530. Nearly perfect here.

So now, we anticipate some profit taking and some consolidation is needed for a few days for next moves.