Via a note from JP Morgan, this referring specifically to the S&P500 index , in summary:

  • The S&P 500 Index continues in a fairly low volatility bull market.
  • We expect those conditions to dominate the first half of next year, albeit at a slightly lower rate of change.
  • We suggest using any short- to medium-term periods of risk-off to add to core long exposure.
  • In our view, the 4430-4465 Sep-Oct pattern breakout and other nearby support levels mark a new floor.

JPM citing their own "chart-based technical strategy work"