SPX's Seven-Day Surge: Longest Rally Since Election Week

Market Summary The S&P 500 has logged an impressive seven consecutive days of gains, marking its strongest run since the November election rally. Starting from the January 13th megaphone pattern support at 5810, the index has surged over 200 points, consistently hitting projected technical targets from 5934 through today's 6137-45 range.

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The momentum remains notably strong, with bulls maintaining control above the 6016-20 level and defending 6071. This technical strength follows a predictable pattern: the megaphone support defense at 5810 has triggered a sustained push toward resistance levels above 6200, though today's dip raises questions about near-term continuation.

Technical Levels

• Key Support: 6016-20, 6071

• Recent Targets Hit:

  • 6105

  • 6115

  • 6137-45

• Ultimate Resistance: 6200+

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Rally Metrics

1. Current Run

   • 7 consecutive up days

   • 200+ point gain

   • Strongest since election week's 325-point surge

2. Control Points

   • Megaphone pattern support: 5810

   • Failed breakdowns driving momentum

   • Multiple resistance levels cleared

Looking Ahead

• Monitor dip buying behavior

• Watch 6016-20 support

• Track progress toward 6200 resistance

Continue following for analysis of potential consolidation patterns and key support levels.