A little over a month ago I mentioned the 2111 level as a likely target for the rally and the market not only challenged this level today but made a higher high at 2113. And if 2116 gets taken out in a micro-w3 of w5, then we will see a run towards the all time high at 2134. The jobs report is serving as the excuse to fuel to the rally and now that Yellen has given a warning on a hit to the US economy if the UK exits the EU, I can see a big rally if the UK decides to leave the EU. A Brexit would mean there would not be any more rate increases this year. So the bias is is bullish and there is the potential of a break out fairly soon. I think where things will get tricky is when the economy does fall into a recession as the options to stimulate the economy in a low interest rate environment are limited.
Lastly, R.I.P Muhamad Ali. I was too young to watch his fights live but watching them now on YouTube, I can appreciate how good this guy really was.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish