The dip from yesterday was successfully bought as expected, and SPX pushed to another set of new all-time highs today. 7450 has been broken and SPX has a pretty clear path to 7500. The upper end of the expected move for this week is also at 7509. There is a good chance we could see one of these levels as early as tomorrow.

Yesterday was the first real “dip” we have seen in over 6 weeks and it was ferociously bought up. There has been a lot of money on the sidelines waiting to get in, and that will continue to be the case for quite some time. It would take a lot to stop this party.

The daily chart continues to push higher and is reaching for the upper end of the expected move once again. The week is winding down with just 2 trading days left, but 7500 should be an easy task to close out the week. Honestly if the bulls don’t get it there, it would actually be quite disappointing. The momentum and sentiment are both strong, so there is no reason for SPX to miss the mark.

Red days have been few and far between lately, so whenever there is one, buying the dip is the correct answer. We could go another few days of green candles before seeing red on the chart again.

Also remember that NVDA has earnings next Wednesday and there is an important meeting with China at the end of this week. The hope train of good news and good earnings could continue to launch SPX to new heights.

Short post today because there really isn’t much else to say. I think everyone has been watching this price action and I think that speaks for itself more than anything, certainly more than any words that I could write.

The market is in a state of absolutely bliss and euphoria right now. No amount of bad data or slightly bad news is going to turn things around. With how things are, nothing short of a black swan can slow us down.

See you at 7500 and beyond!