QUICK UPDATE: It used to be the market would climb the stairs higher and take the elevator down. Now it’s taking the stairs down and riding a rocket ship higher. Expect more of these peak/valley volatility going forward into 2015. Aside from the long term monthly S&P 500 (SPX), which is bullish, all time frames are back to neutral.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: NEUTRAL
Bearish if SPX closes below 1972.74.