There is no question that our expectation years ago was that the S&P 500 was likely destined to strike 3,000 and beyond in the coming years. However, I certainly didn’t expect it to strike that region in the first half of 2018. Yet the market seems as though it is on a path to do exactly that. With the S&P SPX, -0.67% attaining the 2,850 region in January, I have noted that I would have to strongly consider the more aggressive bullish pattern I presented a few weeks ago, despite the lack of standard pullbacks in the pattern I would have to adopt to support such a move. While I would normally view such a pattern as a lower probability, sometimes lower-probability patterns do play out. And with a pattern that has not seen more than a .236 retracement in two years, it is not something we often see in the equity market. Yet that is clearly what we are now being presented with. Currently, I would have to view the market as soon completing a wave iii of (iii), as presented on the daily chart. Moreover, support in the SPX has now been raised to the 2,765-2,800 region. Furthermore, due to the market seemingly wanting to approach the 1.236 extension (2905) in this current structure off the August 2017 pullback, it would mean that the 2,800 SPX region is now support for the market targeting the 3,026 region within the first half of 2018.via