Coming out of the August consolidation has created a very bullish environment for stocks.  

While I had hoped the market would ultimately break lower and through the August consolidation, it chose (not surprisingly), to break higher and now we are sitting right below all-time highs on SPX. 

Now, the norm of late has been  to squat right there, and provide the market with nominal new highs before eventually pushing much lower. See May and August for examples of what I’m talking about. 

Checking out the chart of the S&P 500 (SPX) coupled with all of the sector charts that I marked up today, this now becomes one of the most bullish setups I have seen for the stock market in quite some time here. 

Check out the SharePlanner Reversal Indicator below which also backs me up on this. The bullishness looks legit to me. I’ve added three positions this week to the portfolio, and while I haven’t added any new positions yet today, I would like to still add some before the end of the week, if the market can hold on. 

Here’s the SharePlanner Reversal Indicator: