In bull markets, upside surprises and downside disappoints.

The S&P 500 lost the critical SPX 4630 in late November, bottomed 2% shy of ideal downside support on Dec. 3, and now the index is already trading at new all-time highs. Thus, the SPX has so far carved out a nice 3rd top and 4th bottom almost precisely where it should have based on the typical Fibonacci extensions and retraces for these two levels.

Now, the next 5th Fibonacci top target 🎯 for SPX is 4960-4980 ideally. Once that level is reached a more another multi-week correction (low bottom target 🎯 is 4531 ) should unfold before the (final?!) run to SPX 6000 gets under way in year 2020.