Nice month long rally but at short and medium term overbought now

From the last post, I hinted that the major indexes should be back toward their summer highs within 6 to 12 months. Since then the indexes formed what is called a bullish "Double Bottom" pattern and broke above it early this month October. Going forward, I believe there will be a pause and likely correction back down a bit in the coming weeks. There could still be another 2% or so upside but I believe major indexes will give back about half the move up since early October. That put the support range at the 1975 to 2000 level for the SP500. From the stock market should found a bottom a move forward back above the summer highs.