Reached the middle of target range

We have calculated a target range of 1,618 - 1,634, with 1,626.37 the mid-point.

Today $SPX clocked 1,626.03 and then stopped.

Everything seems and feels bullish and euphoric, so from a contrarian point of view, we are worried of a sudden change in direction.

The market can always extend higher beyond the target range into a 5 wave extension, as it has in previous times.

The best comment I heard about this market on TV was ...  "too late to go long, to early to go short".

DISCLAIMER This blog shall not be perceived as investment advice. This is a personal diary of our thoughts on the markets. Consult a professional broker or adviser before investing.  Any opinions, news, research, analyses, prices, or other information contained on this blog are shared as personal thoughts and provided as general commentary only.