The S&P 500 broke out to the upside today, which I've been expecting. The DWCPF, which also rallied, did not break out. But it isn't far from doing so if can sustain an upward bias heading into the holidays.
The CBOE is bullish for Friday. TRIN and TRINQ look bullish for Friday as well.
NYAD.png
Cumulative breadth on the NYSE has come on smartly over the past week and half or so. You can see by the chart it is breaking to the upside after more than a month of range bound movement.
NAAIM came in relatively unchanged, which is bullish.
Today's bullish action coupled with the bullish indicators I've noted above suggests this upside move may have legs. Seasonality also supports that outcome.
I remain bullish.
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