S&P 500 Kicked over the traces: Neutral stance advised

Relief over the budget helped stocks burst through the upper resistance trend line of a long standing channel. This is no time to enter longs and short term profit taking is likely warranted for some.

I was preparing for a period of hesitation starting yesterday but that didn't happen.

The stock market is now technically overbought, and after the longest winning streak in almost 5 years, a risk in the short term for new longs.