Wow! After holding 2HS2 1905 for 2 days, SPX again tested and held, then launched. Despite the bad jobs # it managed to close above the OctP at 1937. This was a huge score for the bulls and a a significant development per The Pivotal Perspective - not just due to the strength of the rally, but because a long term support level has just held, and the medium term trend uptraded from down to mixed.

The next levels in play are YP 1963 and Q4P 1973. This marks a very clear resistance zone; how that responds will be very key for the bull market. If SPX remains below the YP, then there is still the chance to trade YS1 1833; above the YP, though, and we can start thinking YR1 again at 2188.

ps: you might want to check all the other benchmark index levels that held this week in the "Ringing the bell" post in the blog.