The S&P 500 continues to encounter stout resistance at 1850. The narrow range, however, reflects buyers commitment. Follow-through above 1860 would signal an advance to 1950*. Reversal below 1825 is less likely, but would warn of another correction. The long-term trend remains bullish, with repeated 21-day Twiggs Money Flow troughs above the zero line.
* Target calculation: 1850 + ( 1850 – 1750 ) = 1950
CBOE Volatility Index (VIX) below 20 continues to indicate low risk typical of a bull market.