$SPY Bulls v Bears

For a break out to occur the Bulls should be able to exceed 75%:

Not a gimme with the US presidential elections in November.

Elections notwithstanding, the SP500 continues to follow the seasonal pattern:

$SPY Post-FOMC Analysis

Just when the SP500 and related indices broke back within the consolidation zone, market breadth is reaching overbought levels. This usually precedes a sideways/down phase necessary for the market to catch its breath :

Next calendar CIT September 28th.
Resistance at the ATH