Chart Talk {11.17.15}

One last thing.  The longer this range continues there is a much higher probability that any break {whether to the upside or downside} will be more meaningful.  Should the market break at some point to the downside  then a decline below last summer's lows would have the potential to be a more significant event.  A major breakout above this year's highs could be considered the next leg up in the bull market.  

Traditionally the last six weeks of the years are with the bulls.  Cynically, as I've mentioned in the past it is the last month of the year that determines whether or not Wall Street gets paid.  Thus, it wouldn't surprise me to see some strength going into year's end.  

Stay tuned!

Unabridged chart of SPY is from FINVIZ.Com.

Back Thursday.

*Long ETFs related to the S&P 500 in client and personal accounts although positions can change at any time.