No Real Edge in the Market

Right now there is no clear edge in this market. This is clear from the chop, below breaks down the bull and bear case for the next move in the market. Our position is over the next 2-3 months the market goes higher, there is a likely hood of a pullback in the next week as it nears resistance levels but the trend will still move upwards.

Bulls Case

Broke down trendline from August
Rallied hard off the lows and key support of 404 area
Back above the 200 day MA
Breadth is trending upwards
CPI data slowing down
Bad news is good news buying
Historical Market trends
Santa Rally

Bear Case

Nearing resistance at 442.50 and August highs
Short-term (1 week) overbought
which will represent lots of underwater sellers
Multiple gaps below us that should be filled

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