Bears were on the ropes when last week ended, with stocks gaining buoyancy from Trump’s optimistic remarks concerning China. Assuming no news comes out over the weekend to queer Wall Street’s good mood, expect the futures to easily hit the 2754.00 target shown (see inset). Just a slight overshoot would surpass an important ‘external’ peak at 2755.75 recorded October 13 on the way down. That would refresh the bullish impulsiveness of the hourly chart, setting the tone for the near term. ______ UPDATE (Nov 19, 2:45 p.m.): So every rally is distributive, it would appear. And however bullish/bearish things feel at the closing bell, do the opposite.
