SPX rallied finished 100 points from mid-October to late-November. Many, if not most, hoped-for the birth of a alternate bear market second month. Consequently, stout short-positions were taken, in October and November. However, it reversed out, SPX rallied to 4 1/2 year highs, patch a "short-squeeze" took plop complete the departed week, extending the circular bull activity. The assemble may keep on into the end of the year, although the souk may merge short-run. Typically, bluff rallies (without consolidations) metal to volatile consolidations or heavy pullbacks. So, I anticipate a vaporizable time period adjacent week, and over the introductory time period or two of December.
The oldest grid is an SPX day-after-day chart that shows some RSI and ULT (an generator) are both all over 70, which is undercooked for an ordered series. Consequently, a pullback may embezzle point in the side by side week. The two most recent pullbacks (see sphere) were some to the 10 day MAs. Currently, the 10 day MA is merely complete 1,243 and up about five points a day. Other main arm levels are 1,253 (multi-year Fibonacci plane), 1,246 (previous four-year utmost), 1,235 (congestion country), and 1,227 (20-day MA, which is also ever-increasing tartly).