I got stopped out of my short positions early on Friday as I had to respect the bullish nature of this rally. That said, many hurdles remain to turn the Bearish nature of the current trend around.

The first test for me is a weekly close above 2027 on the SPX (21 Month Moving average that Rambus has cited) which is only 5 points away. Many more hurdles ahead but this is the first.

Also attached is the weekly Ciovacco Video for perspective.

SPX Resistance

Ciovacco Video:

https://www.youtube.com/watch?v=Mk_4LHDCs88