SPX: Nearing upside monthly trend objectives, early

The ADX reading on monthly S&P chart indicates prices are headed for a test of 2841, although the objective was expected to be reached later this year. The last time the market was trending this strongly was in winter of 2013/14: if the market matches the ADX peak again it should have trouble getting through the 2841 area because of elevated readings on ADX. From current levels, another couple months of higher prices appears likely.