**🚀 The $SPX Soars to New All-Time Highs!**

After breaking out to new highs at the end of last week, the $SPX has shown impressive strength with only a minor pullback this week—a successful retest of the 5670 breakout level. 📈 We’re witnessing new all-time highs daily, both intraday and at closing, confirming this bullish momentum with strong price action.

**Key Support & Resistance Levels:**

– **Support at 5670:** This level now acts as solid support. Some might argue that support extends down to 5560, but a move below 5670 could be a warning sign. A decline below 5560 (which I don’t anticipate anytime soon) would suggest a bearish reversal and imply that the recent breakout was a false one.

– **Upside Potential:** With $SPX trading at uncharted highs, traditional resistance levels are absent. We’re using the +4Σ “modified Bollinger Band” (mBB) as a target, currently at 5810 and gradually rising.

**Market Indicators to Watch:**

– **Equity-Only Put-Call Ratios:** These ratios have been flirting with sell signals but haven’t confirmed them. The standard ratio hit a new relative low recently, keeping it on a buy signal. The weighted ratio is moving sideways—technically a sell signal, but not actionable unless it starts to rise swiftly.

– **Market Breadth:** Breadth has been reasonably good, with both breadth oscillators remaining on buy signals. They’re in overbought territory, but that’s acceptable when $SPX is breaking out to new highs.

– **$VIX Signals:** The $VIX is giving mixed signals. On one hand, the “spike peak” buy signal from September 9th is still in play and has been profitable. On the other hand, the trend of the $VIX sell signal persists since it hasn’t fallen below its 200-day Moving Average (currently at 14.90 and rising). The $VIX staying above 15 keeps this sell signal active.

**Conclusion:**

The majority of our indicators are bullish, and with $SPX confirming its upside breakout, we’re maintaining a **core bullish position**. We’ll continue to monitor for any confirmed signals and will take partial profits on positions that are deeply in-the-money.

**Stay informed and let’s navigate these markets together!**

#StockMarket #Investing #SPX #MarketAnalysis #BullishTrends

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