The S&P 500 had an amazing week, up 3.80%. Now we are right back at that overhead resistance of $2191. My gut tells me to bailout and wait for a pull back. My monthly moves that got me here says stay in. The DMI index is on the move and is turning green. Volitilty is falling and all signs point to higher prices. Now that all the drama is over with the election maybe next week we will actually see what this market can do.
If you thought the S&P 500 had a good week, then you must think the Small Cap kicked some serious butt!! Small Cap was up 6.7%. Just like the S&P, the Small Cap has reached that overhead level of $1106. These levels have to be broken and they have to be broken soon or we are once again going to pull back aggressively. The DMI here is also turn green and that’s a good sign. We need to breakout. That is simple.
The International did not follow the S&P or Small Cap and actually faded lower during the week. Not much of a fade, but down none the less. The other bad thing that happened is that the weekly chart fired a sell. This normally means the current trend will continue and lower prices are to be expected.
Weekly Chart if you want to see it. 
Bonds continue to sink lower. DMI is really ugly. Lastly, the weekly chart fired a sell, so expect this trend to continue lower.
Weekly chart if you want to see it. 
Conclusion: We were due a pop on all 4 indexes but only 2 did. It is concerning that the International did not follow. It is also concerning that the fast rise in price on the S&P and Small Cap did not punch through their overhead resistance levels. We need that to happen like yesterday. It will be interesting once again to see what happens next week.
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