Prices came within 4 points of a new all time high but just could not get past resistance. The market could use a break at this point and correcting back to the 2150 level would be a reasonable price correction. However, as I said yesterday, the market could enter into a sideways correction instead and bounce around the 2170-2190 area before another bullish leg materializes. Now that the elections are over, the next major catalyst for the market will be the holidays and earning prospects in January.
Have a great weekend!
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish