The S&P 500 has come to a major postelection crossroads

The S&P 500 index SPX has remained strong since the U.S. presidential election. The target for this upside move continues to be the +4? “modified Bollinger Band,” which is now near 6,050 and rising.

SPX has support at 5,870. A close below 5,870 would cause us to relinquish our core bullish stance, even though there is further support down to 5,670. A close below 5,670 would be very bearish, but that doesn’t seem to be in the cards at this time — especially with the upcoming positive seasonality that arrives with Thanksgiving.