As I noted over since last week, I’ve believed that the S&P was setting up for a move higher. Now we have that falling wedge break out, and a bounce off the key fib pivot I had identified as well. I think for the day the high is in for now as we hit this minor channel.

SPX

Here is the pivot chart again. I do think we are en route to higher highs.

S&P Fib Pivot