Markets look toppy

At the bottom of this rally in August, I said the market should find support @ $105. The market was oversold at the time and chopped around the level. It would trade below $105 only to recover it into the close. This established $105 as being a major level.

There is a similar situation going on @ $118.55, we've traded above only to close below it, or close above it only to sell off the next day. The market cannot escape $118.55, it's like a magnet.

In a normal market, the market would have sold off already. But with elections coming up, they will prop the market until then.