Before spending much Monday selling off, the SPX (NYSEARCA:SPY) managed to make a new intraday all-time high.

 

By Rob Hanna

 

The new high followed by a poor and downward close triggered the study below, from the Quantifinder. Results are all updated.

2017-12-05

Results here seem to suggest an upside edge over the next 1-2 weeks. Though the reversal may have felt frustrating to bulls at the time, it does not appear to be substantial worry for the near term.