SPY is in bullish consolidation at the top of its daily chart, with an inverse head-and-shoulders and bull flag holding above the neckline. As long as price stays above the neckline, the measured move target is $800.92, anticipating the S&P 500 hitting 8,000 sooner rather than later; top patterns can fail.

All right, so let's get into the S&P 500 first on the daily time frame. We see here basically guys, we are flat down 0.01% on the day. What does this all look like? This all looks like bullish consolidation right at the top of the charts.

Now, one thing I caution you, normally bullish patterns up at top of charts can fail, but look, we're stacking two right on top of each other. We have an inverse head and shoulders pattern and we got a bull flag with price action maintaining above that neckline.

We had one day down beneath the following three trading days right back above even with the tech scare and Elon Musk coming out this morning saying Micron could be could get put under pressure with other companies coming out of China with cheaper memory options.

Now, we see the spiders with this still inverse head and shoulders pattern. As long as price is above that neckline, this targeted measured move is on the table up at $800.92, anticipating the S&P 500 to hit that 8,000 mark uh sooner rather than later.