This monthly chart shows that SPX has gone up in 3 major phases with what could be the final one in process now. In this view, the current rally looks vertical. Hmm. RSI is diverging negatively, unlike some of the momo volume bubbles of the past. But again, my thesis is that the bubble is in the extreme policy propping it literally from 2008 to the current day.
It’s going to stop where it stops. Our targets have been 3200 and 3300, which SPX hit this week. There’s another up higher. But among the things, I’d be looking for on the daily chart above is a short burst of volume and a short burst of parabolic activity. May happen, or as noted above the pig may just rollover of its own bloat (legacy and current policy is bloated beyond comprehension in support of this monolith to the folly of man).
