Who knew that war, terrorism, options expiration week and interest rates (possibly) climbing in December could be a bullish sign for the market. It was back in August that I stated that once the correction was done we could see the balance of the year with a ascending market. Except for the recent hiccup, that forecast has been remarkably resilient.
Springheel Jack made the near sighted prediction that a failure for the S&P to break the middle bollinger band would be bearish for the market, which although technically correct I feel didn't take into account options expiration and the Fed. His prediction that a break above 2060 would mean that a high at around 2116 would be tested is I feel spot on. This move also shows that the series of higher lows creating the green line on my diagram was a mega-strong resistance and the platform upon which our double top is going to be made.