BREAKOUT

We have broken out of recent highs overnight in the S&P and hit a new high at 1193. The news is attributing the pop to the announcement out of the G-20 meeting. This should signify a breakout for the bulls especially if we can close above the 1186 level on the S&P futures. Watch out for a sharp correction this week as everyone is expecting this market to continue to rally through the elections, be careful though we all know what happens to the market when the most amount of people expect it to go one way! Friday was an inside day with low tick and volatility. This always builds energy so watch out for better swings and more tick. The daily CCT indicator stands at +190 which is still somewhat overbought, but off of the highs at lower prices which is a divergence.