Bullish case: We are still getting higher highs and lows and not breaking any important support levels all the way back to 2010.
21, 50, 100, and 200ma are all moving up and in synch higher than the longer MA
Options last week gave a great short term buy signal, and it worked so far, but will not matter by end of the week.
Bear case: A/D numbers getting weaker, look at big negative today. We are not getting the massive positive tick numbers on big up days, and the trin stays stubbornly low even on big down days, all bearish.
Weekly sentiment barely budged after last weeks big up and down, and longer term options players and the vix are too bullish, which is bearish.
MY gut is the economy will limp along into early next year, unless oil collapses, or something crazy from the political side comes along. Finally, forget Trump and congress news, it really does not matter what you think of them, they will in the end not have much effect on the market, unless they really do something (not say something) totally insane, and of course one can not discount that.
