The S&P 500 is still hovering around the 3000 mark, reaching 3014 intraday but it couldn’t find the momentum to continue its advance although breadth closed on a positive note: 2222 stocks advanced compared to 1534 that settled down. The cumulative advance/decline line broke decisevely its latest top of September, a positive sign for the sustainability of this bull market. Our scenario envisions a correction/consolidation down to the 2930-40 area to set up the necessary conditions for a year end’s rallyl.

NEXT UPDATE FRIDAY 25TH October