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"