Next Target Reached - Market Analysis for Sep 11th, 2025

Today, the market has now reached the target we set once the market made it clear it was heading to new all-time highs last week. And, as you can see from the attached 5-minute SPX chart, we have reached the upper portion of the larger degree target box, which is where I was calculating this current extension was pointing us towards.

But, just because we have struck a target does not necessarily mean the market is going to stop.   We have seen some ridiculous extensions these last several months, which really reminds me of the early 2020 time period.  

So, just because the market has reached our target does not mean it is time to short.  We still need to see evidence that a top of some sort has been struck.  And, the first indication comes with a break down below the b-wave in the 6360SPX region.   But, as you know, we will then need to break down below 6212SPX to make it highly likely that we are in the pullback I currently still expect.  And, the manner in which the market declines may tell us if a long-term top has indeed been struck.

In the very micro perspective, I would view the 6530SPX as our micro support, which represents the bottom of the trend channel, as well as the .382 retracement of what I am counting as wave v.