"Not enough is said about the power of thinking about one topic for a long period of time. If you revisit a topic continually for a few years, most problems (and many solutions) will occur to you at some point. Expertise can be the gradual accumulation of many modest insights."

In summary, the SP-500 chart looks bullish and will stay bullish unless SP-500 closes below 3500.

 The broad market, as measured by SP-500, finally reached a new all-time closing high this week on Tuesday, November 16th. It was unable to hold that level and has now fallen back a bit. In fact, it has closed back below the old September highs of 3588. 

"Whatever the mind can conceive and believe, the mind can achieve."

 

The market remains volatile and -- so far -- within its previous trading range, on a closing basis.

Last Monday, the COVID-19 vaccine news caused SP to gap up on Monday's open.That was the largest percentage gap to a new all-time high in history.

As traders know, there's an old adage to "sell the news," especially if there has been anticipatory buying before "the news." And they did, driving SP back inside its 3200-3600 trading range.

It still seems that a close above the highest prices reached in September -- would be an upside breakout and would have follow-through. So that is near-term resistance. A breakout to the upside would be worth following.