Vertical Advance Gains Even More Upside Traction

Right after I posted my earlier "EITHER/OR" scenario for e-SPM-- a vertical thrust towards the upper-channel line at 1875/78, or a nasty downside reversal that breaks 1862.75-- the index took off to the upside, and has just about satisfied its upside target zone at 1875/78.

Of course, if the e-SPM hurdles and sustains above 1878, I suspect we will not be able to rule out additional "melt-up" strength that propels the index right to a test of its all-time high at 1892.25 on April 4.

At this juncture, only about of weakness that breaks 1872 will trigger initial indications that today's vertical advance is complete.

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