SPX made a break with impressive conviction back over the daily middle band yesterday, so the retest scenario I first started talking about a month or so ago, before the current high, should be on. I was talking about what I expect for the summer in more detail in my post on 26th May and you can see that here to refresh your memory. Nothing material has changed in my view from when I wrote that post.
That being the case I am now looking for a retest of the high, ideally today, and if that test is today I have an ideal target zone for the likely 2015 high in the 2132-42 range. I have explained the merits of the three targets within this range on the chart below. SPX daily chart:
