S&P Market News Update

True to seasonal form, November has been a strong month for the U.S. markets.

The S&P 500 and the Dow industrials have taken flight, reaching uncharted territory, while the small- and mid-cap benchmarks have come to life technically.

Before detailing the U.S. markets’ wider view, the S&P 500’s hourly chart highlights the past two weeks.

As illustrated, the S&P has extended its uptrend, rising to another all-time high.

From current levels, first support holds at the breakout point — S&P 2,056 — and is followed by a deeper floor at 2,040.