SPX has rallied out of the range bisect and 200 day MA area. The 2 CS measure of bearishness has dropped from 116 on July 8-9, when SPX closed as low as 2047, to 54 yesterday with SPX's close at 2127! That's the smallest bear number since early last December.
Other potentially short term negative factor are the multiple overnight gaps on this swift rally up, the options expiration yesterday which is frequently a short term cycle high and the indecisive daily candlestick bar. It would be easy to get a Scottish method rollover sell on Monday. But it makes sense to see if SPX can make a 9th pointer above 2129.87.
It was wonderful to see the comment by great trader, teacher, and friend G9. We fought the market battles between about 1997 and 2003. Those were the days!