Hi PR, I tried to respond to your post with that chart earlier at lunch. I'm one of those old farts that move too slow. I got web-filtered out before I could send it. lol
I am in total agreement with the annotations on that $spx chart. I can see why you like it. That is nicely done. I was thinking 1310-1320 on the S&P myself as a point to exit.
One thing you may want to consider? Every year, the Russell re-aligns the stocks it tracks in the index. The additions and deletions can get really volatile. I haven't researched the dates and the overall index performance in the past. Joanneg mentioned the date is coming up.