The S&P 500 futures are down 0.3% to 5720
points this week but remain close to the all-time high of 5773 points. The
index may set a new record soon, potentially activating a bullish scenario
toward extreme targets of 6100-6200 points. Technically, the index needs to
break through the 5790-5810 point range to gain further momentum.
Large inflows into the SPDR S&P 500 ETF
Trust (SPY), totaling $17.4 billion last week, are a positive sign.
Historically, such inflows have pushed the index up by as much as 3.6%, which
could take the index above 5900 points.