Looking for a Potential Strong Close Today

All eyes should be on the S&P 500 today. If it's ETF (SPY) can close above $110, and we will have a weekly breakout. The NASDAQ has lagged, but it is moving nicely off of its trend. Likewise, the semiconductors are gearing up for a strong move off their breakout support level. A strong weekly close today would put the market in a strong technical position to make a very nice run. There has been a lot of doom and gloom about the longer term outlook of the market lately. A lot of it surrounding the unknowns related to the changing of the guard at the Fed. Perhaps the market is going to surprise a lot of people and start trending to new highs. If there is a certainty in the market, it is that the market always surprises the greatest number of people possible.