We had a nice time/price decision in the SPX this past week. This was a two-step pattern with support coming in at the 3844.38-3858.19 area and that included a .50% retracement, 1.618 extension and 100% projection. We had timing cycles for a possible low on 3/24-25.
We ended up making the low directly into these parameters at 3853.50. Since then we've seen a rally of 84.80 from the 3/25 low. The potential for higher prices comes in at target 1 at the 4019 area if we can continue to clear the hurdles on the way up. The next hurdle is 3955.97.
Since we've already had a rather healthy rally, we are trailing up stops on longs.