On the daily chart, a major Hidden Pivot at 558.55 can serve as a minimum upside objective for the near term.  However, if it’s exceeded on a closing basis, or intraday by more than a couple of points, we should infer that the 576.19 target of an even larger pattern is in play. Both patterns are shown in the accompanying chart, and in each instance the rally had little trouble getting past the respective Hidden Pivot midpoint. This bodes well for a presumably imminent attempt to surpass the  watershed peak at 516 recorded in December 2009, although I don’t expect this feat, which could be achieved as early as today, to evince much strain.)