There is a historic channel and the for this is located at 185 around April-May this year. The SP500 was able to breakout and made it to the upper side, Now the market keeps on growing and growing fueled by and 0 interest rates.
Key levels to watch for, 205 on the $SPY and around 2050 on the SPX which are levels where the 1.618 Fib level will be reached, this is important because this is a strong Resistance to the upside. So the so called correction is likely to happen when that level is reached by the end of the year after the Santa Claus Rally, if the market doesn’t say otherwise.
So keep on dancing as long as the music plays, but keep in mind this is the musical chairs game.