S&P 500 ~ Intraday Update 1 ~ 2 August 2010

First day of the month, the market is up almost 2 % and already above the July high. : )

The next target should be 1130ish, the June high and the upper trendline of the wedge.

The lower trendline should hold to maintain this very bullish count. Else we could see a gap fill at 1070 but so far the bullish count looks good and I'll keep it.