Preparing for Liftoff

The S&P 500 has pulled back from its recent and is consolidating ahead of what will likely be a retest of the all time highs (white line at the top of the chart). The market is well supported around 2072 and further below at 2050.sp-500hourly2015.11.11The only real resistance overhead falls around 2104 and further up at the all time highs. Probability favors the bulls, as this move appears to have momentum, and seasonality skews bullish late in the year. Take off exposure on a break below 2050.

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