At the close on Friday, the S&P 500 was still below next resistance ; Daily OB/ OS momentum for the S&P 500 was moderately overbought.

Short-Term (days/weeks) : higher
Following on last week’s short-term buy signal (days/weeks), the S&P 500 was
higher last week, breaching resistance from the November high as Daily OB/OS
momentum turned positive.
At the close on Friday, the S&P 500 was still below next resistance ; Daily OB/
OS momentum for the S&P 500 was moderately overbought.
No sell signal: the short-term outlook (days/weeks) for US equity indices
remains positive.
See Daily OB/OS Charts, attached.
Intermediate-Term (weeks/months): still positive
US intermediate indicators of breadth and momentum were all sharply higher
week-on-week at the close on Thursday, including NYSE, Nasdaq 100 and
Nasdaq Composite Intermediate Term Indicators, Percentage of S&P 500
Groups with Positive Money Flow Indicator and Money Flow of the Average
NYSE Stock.
The DJIA, Nasdaq Composite and Nasdaq 100 were also all sharply higher week
-on-week at the close on Thursday. The DJIA turned up at October trend support
and is near January 2021 resistance, the Nasdaq Composite and Nasdaq 100 are
both turning up at short-term support and are still below next resistance.
See Weekly Charts, attached.
Sharply higher US equity indices accompanied by accelerating improvement in
weekly indicators of breadth and momentum suggest a still-positive intermediate
trend (weeks/months) for US equities.
The NYSE ITI troughed in the 50% range last week : DJIA analogs since
Indicator inception suggest a positive intermediate trend for the DJIA/S&P 500,
at least until end January for the two Pre-Election Years in the model : see
analog chart, page 2.
The DJIA Pre Election Year analog model also suggests a positive intermediate
trend (weeks/months) for the DJIA/S&P 500 : see analog chart, page 3.
Key Takeaway : the intermediate outlook (weeks/months) for US equities
remains positive.