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. Feb. 20 ~ U.S. Markets closed for Presidents' Day Holiday
* Wed. Feb. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Mar. 1 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 10 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 14 ~ 2-day FOMC Meeting Begins
* Wed. Mar. 15 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. Mar. 15 @ 8:30 am ET ~ Retail Sales