S&P 500: It Still Feels Like Nothing Can Stop This Bull MarketUS SPX 500OANDA:SPX500USDDukesMarketAnalysisS&P 500: It Still Feels Like Nothing Can Stop This Bull Market The Secular Bull Market Rolls On The S&P 500 remains firmly entrenched in the secular bull market that began in 2009. Time and again, medium and short-term weakness has ultimately been bought, with the index continuing to recover and push to fresh record highs. Another Pullback From Record Highs SPX has pulled back from its latest all-time high at 7,821.6, but there is little yet to suggest anything more sinister. The broader structure remains firmly bullish, with the latest weakness so far looking like another pullback within the larger advance. 7,703 Is the First Level to Reclaim Bulls will initially want to reclaim the recent 7,703.1 swing low. A move back above this level would strengthen the short-term picture and could quickly put the all-time high, and potentially another move into price discovery, back on the agenda. Plenty of Support Below Should the pullback deepen, the former resistance zone around 7,625–7,580 provides the next important area of support. The bullishly crossed 100/50-Day EMAs are also rising beneath price, providing additional support to the broader trend. Is This Simply Another Dip to Buy? The remarkable feature of this secular bull market has been its ability to absorb setback after setback. Until important structure begins to break, there remains every possibility that this latest weakness eventually becomes just another dip that buyers step into. In Summary The S&P 500 continues to give the impression that very little can stop this secular bull market, with almost every meaningful pullback eventually finding buyers. Bulls will first want to reclaim 7,703.1, which could reopen the door to fresh all-time highs. Even a deeper move into 7,625–7,580 would not necessarily damage the bigger picture. Until important structure begins to fail, this remains a market where weakness continues to be bought.