Directional Analysis

Just a quick recap of what happened yesterday through the eyes of the Exchanged Traded Fund SPYs, which tracks the S&P 500. All the market did, like I had pointed out on my last update, was a small pull back to back test the break out of the channel.  So far pre-market it looks like the markets could have enough force to break through the Symmetrical Triangle pattern I have pointed out on my last few updates.  The area to watch would be the highs from yesterday in the S&P 500 futures, once the market breaks through that area, we could be seeing a break out of the Symmetrical Triangle. It would be interesting to see if the markets have enough force to have a Santa rally!!!