Uptrend in S&P 500 On Verge of Wave 3

With Friday’s move towards top portion of recent trading range, SP500 now poised to resume ascendant with a 3rd wave upwards. It will need to close solidly above Feb. 16 highs around 275 on SPY.

If that happens, next upside target is 280 and we will be looking for retracements to enter a long position.