The S&P 500 maintains its bullish ranking at positive 20 this week, reflecting a well-balanced technical environment as we witnessed a significant breakout above the closely-watched 600 level. This ranking acknowledges both the market’s strength and the need for confirmation of the breakout on higher volume following the holiday-shortened week.

The S&P 500 maintains its bullish ranking at positive 20 this week, continuing the stance we’ve held over the past several weeks. This ranking reflects the broader market’s technical health, with key support levels holding at 585 and confirmation patterns emerging across multiple indexes. The sustained ranking acknowledges the market’s ability to maintain its broader uptrend while working through necessary retracements.

The S&P 500 maintained its +20 ranking this week as the market transitioned from an overextended move into a developing bullish retracement. This expected secondary pattern highlights the profit-taking environment following recent upward momentum, with key technical levels now being tested. The question on every trader’s mind is simple: will the retracement hold at support?

The market landscape has been fundamentally reshaped by this week’s dual catalysts – Trump’s election victory and the Fed’s dovish stance. The technical breakouts across all major indices, confirmed by expanded volume and momentum indicators, paint a decisively bullish picture. However, experience, particularly the analogous 2016 post-election period, teaches us that the most profitable opportunities often come from the secondary patterns that develop after such catalyst-driven advances.