Next-Up … A Melt-Up Higher???

I keep a close eye on the market internals because that is really the fuel that allows the market to make larger moves …

McClellan Summation Index – Daily Chart

Today saw the first positive market breadth signal since October 11th … that is over a month and all that has happened with the SPY is a slow grind higher in price while the trend strength histogram pulled back into the Chop Zone.  That pullback means that the SPY is now ready for its next expansion phase …

An expansion phase coming out of this holiday trading week makes perfect sense as we head into month-end next Thursday, and then get ready for the Santa rally that everyone is counting on.

Cheers … Leaf_West

 

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