The bull market is old and valuations are stretched but the chart looks good.
Take away everything you know about the S&P 500 and focus only on the chart. I might like to see a bit more breathing room above the Feb-April uptrend but it looks extremely good.
The S&P 500 is at an all-time high but the series of higher lows and the lack of momentum since February leaves the market in a healthy place. It's tough to draw a target but the measured move of the March range is 2200 and that's a good bet.
Besides, it's not like the bears have been proven wrong before.
