The all time high that is relevant after the dividend on the adjusted $SPY chart is now $207.50 and on the $SPX it is now $2079.50.
Breaking out of a month long price range to all time highs is bullish and a buy signal inside this long term up trend in my trading system.
The 59 RSI on the daily $SPY chart gives it room to run.
The bounce off the 30 RSI support level has created a ‘V’ bottom pattern in the short term which is bullish.
The last three days of momentum is bullish.
The doji on Friday with the resistance at the all time high price has the potential of leading to a trading range here as gains are consolidated and the short term moving averages catch up to these extended price levels next week.
The MACD has not crossed over to give off a long buy signal yet, the odds are this happens next week.
The market internals are healthy showing accumulation of leading stocks and healthy charts that have mostly consolidated in price ranges.
Their is no current reason to be bearish based on this chart or market price action.