The target was hit today. It is not a coincidence that the market strongly surged upwards into the 1-year anniversary of the July 1st, 2010 bottom. It's a timing cycle due.
The turquoise fork line was backtested today. I am suspecting a sharp selloff to test 1295 SPX or so next. It might take the form of a mini "flashcrash". July 6-7 may be a potential bottom. A bounce back up from there to form a double top is favored using 3 different cycle patterns.
I plan to show more detailed charts on the weekend.