DaBoyz refreshed, revitalized and extended their summer-long bull trap on Friday with a push above a 1098.50 peak that had been noted here earlier. This means that the rally has surpassed not only the single internal and external peaks required to signal a proper impulse leg, but a second “external” peak for good measure.  They will not get likely past a third without a significant correction, however, since that would imply a further, unpaused rally to at least 1128.00.  If this were to occur, we would want to have yet one more benchmark in reserve to test the mettle of buyers. Accordingly, I’ll stipulate that they must exceed the summer solstice high at 1129.50, and thence the May 18 high at 1142.75,  before we are obliged to act impressed.  As always, it is not merely the surpassing of prior peaks that will tell us how much buying power remains, but the way in which they are surpassed. For example, a thrust that exceeds two peaks without a b-c pullback should be regarded as more powerful than one that exceeds three peaks with one or two retracements along the way.