SPY did the thing

I have been talking about breakouts (and false breakouts) this week because of several examples going on in the market such as BTCUSD (failed) and TSLA (passed). SPY and the broader US stock market did such a break of an All Time High on October 25. October 27 saw a pullback to hold the prior level and the last two days have been up from there.

As always there is tons of FUD out there in the media and on earnings calls about 'inflation' and 'supply chain disruption'. The chart does not seem to care. Ignore this technical setup at your own financial peril.

Statistically speaking so far 2021 is following normal patterns of a bull market. It is continuing to fulfill the bullish statistical probability that a 1) post election year where 2) a Democratic President is elected with a 3) unified Congress.

If it keeps being 'normal' we should see a Santa Claus rally.