There is still some momentum heading into the year end. The latest CPI report helped neutralize the Fed risk for now.
Is the bear case dead? At least through the end of the year.
The fact we have neutralized Fed risk given the inflation print, which can spike the positioning chase through the end of the year.
The index passed through 4400 resistance, what it does is to draw the investors back to the market, and overweight becomes much more overweight, then the markets have more room to run.
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