Monday June 5, 2017 @4:24 pm edt.
The S&P 500 ($SPX) index, once again paused today as it backed filled on extremely low volume (1/3 less normal down very bullish!) just under last weeks 2440.13 all time high in a range today of 2434.12-2439.55. Most, likely today’s action holding key support in the 10 day rage of 2,432.19 was just a pause before going higher again. The index most likely based on its 10 year monthly RSI rating currently at 75.38 goes higher and achieves a level near its all time high monthly RSI rating of 85.55 that was seen pre 2008 crash that resulted in the Great Recession that followed. The index has many factors that says 2500 will be seen sooner then later and pointing out the indexes RSI rating on a 10 year monthly chart (illustrated by today’s June 5, 2017 Call Out Box Update in the chart below) is just another major one in the bull case that the index is about to continue its unprecedented and historic bull market parabolic rise to 2,500!