With price fast approaching a 13-year triple top, it's hard to imagine not seeing some cannibalization occurring in the SPX at some point soon.
After all, if the world's most recently coveted stock, AAPL, could and did suffer such cannibalization (as I wrote about here and here), it would appear that nothing is infallible (in spite of the Fed's POMO activities).
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UPCOMING (MAJOR) ECONOMIC EVENTS...
* Mon. May 29 ~ U.S. Markets closed for Memorial Day holiday
* Wed. May 31 @ 2:00 pm ET ~ Beige Book Report
* Fri. June 2 @ 8:30 am ET ~ Employment Data
* Tues. June 13 ~ 2-day FOMC Meeting Begins
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