Setting Up For Higher

Published 11/22/2015, 04:22 AM

“The difference between a successful person and others is not lack of strength not a lack of knowledge but rather a lack of will.” – Vince Lombardi

Friday was solid with leading stocks continuing to move well and markets still setting up to move higher with more room to run on my oversold/overbought indicator.

All in all, things remain looking good as the bull market rolls forward.

SPY Daily Chart

SPDR S&P 500 (N:SPY) is still consolidating well under the 210 resistance area.

212.50 remains the above resistance area that is posing the major problem and I’ll reassess my positions as we trade there.

I don’t know if we will consolidate and then breakout higher or if we will see another correction but I’d prefer a breakout higher to finish this year off strongly.

Time will tell.

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