We are still in a choppy sideways mode and we do not expect much action for going long or short. However, based on our cycle’s projection we are expecting to go long sometime in the middle of December for a year-end rally. That is a very high possibility based on our observation of the market, particularly because our mid-term cycles for the S&P 500 are still bullish.

This underlying strength to the bullish trend could easily create a major rally and end up putting the broad indices into new high territory.