Updated S&P500 chart: breakout alert

On the 3rd of January I posted this exact same chart with the general idea being that price has been incredibly cyclical for some time. It was starting to look like a higher probability of a changing trend and I explained clearly what my drivers were to make that assumption. We are now outside of the trend channel and my scenario of a 4410 target being reached is very much alive. Invalidation occurs with a drop below 3900, but a drop below 20-day MA should already be a first red flag. Until any of that happens, I remain fully invested.