SPX is at an important junction here. If it can sustain the breakout above the upper black TL, then this could accelerate higher going fwd. If SPX whipsaws the upper black TL and turns back down from here, then the ED (ending diagonal) would be gaining weight. Next few days look key and will set the intermediate term direction.
@DaddySawbucks, that may well be. But price is the ultimate arbiter. Internals may be bad, but as long as price keeps going up, they will be fixed at some point. This week is key, imo. Either breakout sticks and we start gaining speed or this fails back below the black TL, which would put bulls on the defensive.